Transcend Capital Advisors LLC Sells 4,619 Shares of NIKE, Inc. $NKE

Transcend Capital Advisors LLC decreased its position in NIKE, Inc. (NYSE:NKE) by 14.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,597 shares of the footwear maker’s stock after selling 4,619 shares during the quarter. Transcend Capital Advisors LLC’s holdings in NIKE were worth $1,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Mitchell Mcleod Pugh & Williams Inc. increased its position in shares of NIKE by 1.0% during the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock valued at $1,007,000 after purchasing an additional 134 shares during the last quarter. Caldwell Sutter Capital Inc. increased its position in shares of NIKE by 6.3% during the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock valued at $170,000 after purchasing an additional 142 shares during the last quarter. Salomon & Ludwin LLC increased its position in shares of NIKE by 10.1% during the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock valued at $120,000 after purchasing an additional 145 shares during the last quarter. Westmount Partners LLC increased its position in shares of NIKE by 2.9% during the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock valued at $367,000 after purchasing an additional 146 shares during the last quarter. Finally, HB Wealth Management LLC increased its position in shares of NIKE by 0.3% during the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock valued at $3,695,000 after purchasing an additional 147 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE stock opened at $68.51 on Tuesday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44. The stock has a market capitalization of $101.26 billion, a price-to-earnings ratio of 35.13, a P/E/G ratio of 2.55 and a beta of 1.29. The stock has a fifty day simple moving average of $72.20 and a two-hundred day simple moving average of $68.01. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59.

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

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio is currently 82.05%.

Analyst Upgrades and Downgrades

NKE has been the topic of several analyst reports. BTIG Research initiated coverage on NIKE in a research report on Tuesday, October 14th. They set a “buy” rating and a $100.00 target price on the stock. Stifel Nicolaus set a $68.00 target price on NIKE and gave the company a “hold” rating in a research report on Wednesday, October 1st. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $75.00 price objective on shares of NIKE in a research report on Wednesday, October 1st. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and upped their price objective for the company from $62.00 to $85.00 in a research report on Wednesday, September 10th. Finally, Weiss Ratings raised NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. 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. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average price target of $82.21.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction on 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 sale, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction on 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 sale, the executive vice president owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This 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 corporate insiders.

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.