Koss Olinger Consulting LLC Cuts Holdings in NIKE, Inc. $NKE

Koss Olinger Consulting LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,429 shares of the footwear maker’s stock after selling 1,812 shares during the quarter. Koss Olinger Consulting LLC’s holdings in NIKE were worth $3,014,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Mascoma Wealth Management LLC purchased a new position in NIKE in the second quarter valued at about $26,000. Stone House Investment Management LLC purchased a new position in NIKE in the first quarter valued at about $25,000. Halbert Hargrove Global Advisors LLC raised its position in NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 362 shares during the period. Matrix Trust Co raised its position in NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 shares during the period. Finally, Saudi Central Bank purchased a new position in NIKE in the first quarter valued at about $30,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NKE has been the topic of several research reports. Argus raised NIKE to a “buy” rating in a research report on Sunday, July 6th. UBS Group set a $71.00 price objective on NIKE and gave the company a “neutral” rating in a research report on Friday, September 19th. Telsey Advisory Group reissued a “market perform” rating and issued a $75.00 price objective on shares of NIKE in a research report on Wednesday, October 1st. Morgan Stanley set a $72.00 target price on NIKE and gave the company a “positive” rating in a research note on Wednesday, October 1st. Finally, KeyCorp set a $90.00 target price on NIKE and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.21.

Insider Transactions at NIKE

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

NIKE Stock Down 0.8%

Shares of NIKE stock opened at $69.15 on Monday. The business has a 50-day moving average of $72.38 and a 200-day moving average of $67.94. 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 company has a market capitalization of $102.22 billion, a PE ratio of 35.46, a P/E/G ratio of 2.55 and a beta of 1.29. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44.

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

NIKE Dividend Announcement

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