Bristlecone Advisors LLC Decreases Stock Holdings in NIKE, Inc. $NKE

Bristlecone Advisors LLC reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 23.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,615 shares of the footwear maker’s stock after selling 24,175 shares during the quarter. Bristlecone Advisors LLC’s holdings in NIKE were worth $5,727,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after purchasing an additional 5,601 shares during the period. Banco Santander S.A. boosted its stake in shares of NIKE by 28.3% in the second quarter. Banco Santander S.A. now owns 221,117 shares of the footwear maker’s stock valued at $15,708,000 after purchasing an additional 48,764 shares during the period. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of NIKE in the first quarter valued at $25,963,000. BROOKFIELD Corp ON boosted its stake in shares of NIKE by 36.2% in the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock valued at $41,808,000 after purchasing an additional 175,000 shares during the period. Finally, Cadence Bank boosted its stake in shares of NIKE by 10.0% in the first quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock valued at $5,269,000 after purchasing an additional 7,574 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NKE. Stifel Nicolaus set a $68.00 target price on shares of NIKE and gave the company a “hold” rating in a research note on Wednesday, October 1st. Morgan Stanley set a $72.00 target price on shares of NIKE and gave the company a “positive” rating 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 restated a “buy” rating and issued a $115.00 target price on shares of NIKE in a research note on Monday, September 29th. Finally, Needham & Company LLC restated a “buy” rating and issued a $78.00 target price on shares of NIKE in a research note on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.21.

Insiders Place Their Bets

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction 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 sale, the executive vice president directly owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% 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, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction 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 directly owned 744,988 shares in the company, valued at $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.80% of the stock is currently owned by corporate insiders.

NIKE Stock Down 1.7%

Shares of NYSE:NKE opened at $67.40 on Wednesday. The stock has a market capitalization of $99.63 billion, a price-to-earnings ratio of 34.57, a price-to-earnings-growth ratio of 2.53 and a beta of 1.29. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44. The company’s fifty day moving average is $72.01 and its two-hundred day moving average is $68.10. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19.

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 analysts’ consensus estimates of $0.27 by $0.22. The company had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

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

About NIKE

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.