W.G. Shaheen & Associates DBA Whitney & Co Sells 2,469 Shares of NIKE, Inc. $NKE

W.G. Shaheen & Associates DBA Whitney & Co cut its position in shares of NIKE, Inc. (NYSE:NKE) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 120,960 shares of the footwear maker’s stock after selling 2,469 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in NIKE were worth $8,593,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Mascoma Wealth Management LLC bought a new stake in shares of NIKE during the second quarter valued at approximately $26,000. Stone House Investment Management LLC bought a new stake in shares of NIKE during the first quarter valued at approximately $25,000. Halbert Hargrove Global Advisors LLC boosted its stake in NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after buying an additional 362 shares in the last quarter. Matrix Trust Co grew 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 acquiring an additional 153 shares during the period. Finally, Saudi Central Bank bought a new stake in NIKE in the first quarter valued at $30,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Trading Down 0.5%

Shares of NKE opened at $64.59 on Monday. 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, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The firm has a market capitalization of $95.48 billion, a PE ratio of 33.12, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The stock’s fifty day simple moving average is $71.29 and its 200-day simple moving average is $68.41.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the prior year, the firm posted $0.70 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.5%. NIKE’s dividend payout ratio is presently 82.05%.

Insider Transactions at NIKE

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of the firm’s 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 transaction, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NKE has been the topic of a number of analyst reports. Stifel Nicolaus set a $68.00 price target on NIKE and gave the company a “hold” rating in a research report on Wednesday, October 1st. Sanford C. Bernstein reiterated a “buy” rating and issued a $90.00 price target on shares of NIKE in a research report on Monday, October 13th. JPMorgan Chase & Co. upped their price target on NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Argus upgraded NIKE to a “buy” rating in a research report on Sunday, July 6th. Finally, BTIG Research began coverage on NIKE in a research report on Tuesday, October 14th. They issued a “buy” rating and a $100.00 price target on the stock. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.