Neo Ivy Capital Management Reduces Stake in NIKE, Inc. $NKE

Neo Ivy Capital Management reduced its holdings in NIKE, Inc. (NYSE:NKE) by 63.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,556 shares of the footwear maker’s stock after selling 23,194 shares during the quarter. Neo Ivy Capital Management’s holdings in NIKE were worth $963,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mascoma Wealth Management LLC bought a new stake in NIKE in the second quarter valued at $26,000. Stone House Investment Management LLC bought a new position in NIKE in the 1st quarter worth $25,000. Halbert Hargrove Global Advisors LLC lifted its position in shares of NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares during the period. Matrix Trust Co boosted its stake in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 shares in the last quarter. Finally, Saudi Central Bank purchased a new position in shares of NIKE during the first quarter valued at about $30,000. Institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of the 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 sale, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $64.80, for a total transaction of $5,577,854.40. Following the sale, the chairman directly owned 647,615 shares of the company’s stock, valued at $41,965,452. This trade represents a 11.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.80% of the company’s stock.

NIKE Trading Up 2.1%

NIKE stock opened at $62.72 on Friday. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44. The company has a market capitalization of $92.71 billion, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The business’s fifty day simple moving average is $67.36 and its two-hundred day simple moving average is $68.83. 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 posted its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. The firm had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.NIKE’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.70 EPS. As a group, equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.6%. This is a boost from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, December 1st. NIKE’s dividend payout ratio is presently 82.05%.

Wall Street Analysts Forecast Growth

NKE has been the subject of several research analyst reports. DZ Bank upgraded shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. lowered their target price on NIKE from $100.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, November 17th. 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 objective on shares of NIKE in a report on Monday, October 13th. Finally, Zacks Research upgraded shares of NIKE from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $82.24.

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.