Quintet Private Bank Europe S.A. Lowers Position in NIKE, Inc. $NKE

Quintet Private Bank Europe S.A. lowered its position in NIKE, Inc. (NYSE:NKE) by 38.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,996 shares of the footwear maker’s stock after selling 65,056 shares during the period. Quintet Private Bank Europe S.A.’s holdings in NIKE were worth $7,112,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of NKE. Mascoma Wealth Management LLC purchased a new position in NIKE in the second quarter worth $26,000. Halbert Hargrove Global Advisors LLC boosted its holdings 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 buying an additional 362 shares during the last quarter. Saudi Central Bank bought a new position in NIKE during the first quarter valued at about $30,000. Matrix Trust Co grew its position in NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after buying an additional 153 shares during the period. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in NIKE during the second quarter worth about $31,000. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In related news, Director Jorgen Vig Knudstorp purchased 16,150 shares of NIKE stock in a transaction on Friday, November 7th. The shares were bought at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the acquisition, the director owned 21,388 shares in the company, valued at approximately $1,327,980.92. The trade was a 308.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $64.80, for a total value of $5,577,854.40. Following the completion of the sale, the chairman directly owned 647,615 shares in the company, valued at approximately $41,965,452. The trade was 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.

Analyst Ratings Changes

NKE has been the subject of several recent research reports. Stifel Nicolaus set a $68.00 target price on shares of NIKE and gave the stock a “hold” rating in a research note on Wednesday, October 1st. Cowen raised shares of NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, September 10th. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Guggenheim upgraded shares of NIKE to a “strong-buy” rating in a research report on Wednesday, December 10th. Finally, Raymond James Financial reissued a “market perform” rating on shares of NIKE in a research note on Monday. Four analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.24.

NIKE Stock Performance

Shares of NYSE NKE opened at $67.17 on Wednesday. The company has a market cap of $99.28 billion, a PE ratio of 34.44, a PEG ratio of 2.39 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The firm’s 50-day moving average price is $65.30 and its 200-day moving average price is $69.47. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $82.44.

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

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. This is a positive change 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 currently 84.10%.

NIKE 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.