Wealthfront Advisers LLC Has $3 Million Stake in NIKE, Inc. $NKE

Wealthfront Advisers LLC trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 40.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 56,736 shares of the footwear maker’s stock after selling 38,447 shares during the quarter. Wealthfront Advisers LLC’s holdings in NIKE were worth $2,997,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. D.A. Davidson & CO. increased its holdings in NIKE by 7.5% in the first quarter. D.A. Davidson & CO. now owns 171,585 shares of the footwear maker’s stock valued at $9,063,000 after purchasing an additional 12,024 shares during the last quarter. Midwest Professional Planners LTD. boosted its holdings in NIKE by 1.5% during the first quarter. Midwest Professional Planners LTD. now owns 17,904 shares of the footwear maker’s stock worth $946,000 after buying an additional 266 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in NIKE by 20.3% during the first quarter. Geneos Wealth Management Inc. now owns 66,384 shares of the footwear maker’s stock worth $3,506,000 after buying an additional 11,182 shares during the last quarter. Hudson Canyon Capital Management grew its position in shares of NIKE by 1.5% during the 1st quarter. Hudson Canyon Capital Management now owns 32,224 shares of the footwear maker’s stock worth $1,702,000 after buying an additional 474 shares during the period. Finally, NFSG Corp grew its position in shares of NIKE by 400.0% during the 1st quarter. NFSG Corp now owns 2,845 shares of the footwear maker’s stock worth $150,000 after buying an additional 2,276 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NKE. Bank of America lowered their price target on NIKE from $55.00 to $47.00 and set a “neutral” rating for the company in a research note on Wednesday, July 1st. The Goldman Sachs Group decreased their price objective on shares of NIKE from $46.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. BTIG Research reaffirmed a “buy” rating and issued a $55.00 target price on shares of NIKE in a research note on Wednesday, July 1st. Needham & Company LLC reiterated a “hold” rating on shares of NIKE in a report on Thursday, June 4th. Finally, Wells Fargo & Company cut their target price on shares of NIKE from $45.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, NIKE has a consensus rating of “Hold” and a consensus target price of $54.80.

NIKE Trading Up 0.0%

NKE opened at $43.78 on Monday. The stock has a market capitalization of $64.83 billion, a P/E ratio of 20.95, a P/E/G ratio of 2.53 and a beta of 1.12. NIKE, Inc. has a 12 month low of $40.00 and a 12 month high of $80.17. The firm’s fifty day simple moving average is $43.67 and its 200 day simple moving average is $51.79. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 EPS. As a group, research analysts anticipate that NIKE, Inc. will post 1.75 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, June 1st. NIKE’s dividend payout ratio is currently 78.47%.

Insider Buying and Selling at NIKE

In related news, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64. Following the completion of the transaction, the executive vice president directly owned 53,133 shares in the company, valued at approximately $2,453,681.94. This trade represents a 24.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.80% of the stock is owned by corporate insiders.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).