Koshinski Asset Management Inc. Trims Stake in NIKE, Inc. $NKE

Koshinski Asset Management Inc. lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 21.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 6,912 shares of the footwear maker’s stock after selling 1,921 shares during the period. Koshinski Asset Management Inc.’s holdings in NIKE were worth $491,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NKE. Stone House Investment Management LLC bought a new stake in NIKE during the first quarter worth about $25,000. Mascoma Wealth Management LLC bought a new stake in NIKE during the second quarter worth about $26,000. Halbert Hargrove Global Advisors LLC boosted its stake in NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 362 shares in the last quarter. Saudi Central Bank bought a new stake in NIKE during the first quarter worth about $30,000. Finally, Matrix Trust Co boosted its stake in NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after acquiring an additional 153 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 0.5%

Shares of NIKE stock opened at $67.71 on Tuesday. The company has a market cap of $100.09 billion, a price-to-earnings ratio of 34.72, a price-to-earnings-growth ratio of 2.48 and a beta of 1.29. The company’s 50 day moving average is $72.97 and its 200 day moving average is $67.56. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $83.09. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The company had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 earnings per share. Research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.4%. NIKE’s dividend payout ratio is 82.05%.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the transaction, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares in the company, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NKE shares. Bank of America boosted their price objective on shares of NIKE from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, June 27th. Needham & Company LLC reiterated a “buy” rating and issued a $78.00 target price on shares of NIKE in a research note on Wednesday, October 1st. Citigroup upgraded shares of NIKE from a “neutral” rating to a “positive” rating in a research note on Friday, September 19th. Jefferies Financial Group reiterated a “buy” rating and issued a $115.00 target price on shares of NIKE in a research note on Monday, September 29th. Finally, Wall Street Zen upgraded shares of NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.