Carlton Hofferkamp & Jenks Wealth Management LLC Decreases Stake in NIKE, Inc. $NKE

Carlton Hofferkamp & Jenks Wealth Management LLC decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,722 shares of the footwear maker’s stock after selling 470 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in NIKE were worth $669,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Stone House Investment Management LLC bought a new position in shares of NIKE during the first quarter worth about $25,000. Mascoma Wealth Management LLC acquired a new stake in NIKE during the second quarter worth about $26,000. Halbert Hargrove Global Advisors LLC raised 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 during the period. Saudi Central Bank acquired a new stake in NIKE during the first quarter worth about $30,000. Finally, Matrix Trust Co raised 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 during the period. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, September 10th. Zacks Research upgraded shares of NIKE from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Jefferies Financial Group reiterated a “buy” rating and set a $115.00 price objective on shares of NIKE in a research note on Monday, September 29th. BTIG Research assumed coverage on shares of NIKE in a research note on Tuesday, October 14th. They set a “buy” rating and a $100.00 price objective on the stock. Finally, Citigroup upgraded shares of NIKE from a “neutral” rating to a “positive” rating in a research note on Friday, September 19th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $82.21.

Insider Buying and Selling

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

NIKE Price Performance

NYSE NKE opened at $69.15 on Friday. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The firm has a market capitalization of $102.22 billion, a PE ratio of 35.46, a P/E/G ratio of 2.57 and a beta of 1.29. The company’s 50 day simple moving average is $72.38 and its 200 day simple moving average is $67.78.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter last year, the business earned $0.70 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is currently 82.05%.

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.