NIKE, Inc. $NKE Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its holdings in NIKE, Inc. (NYSE:NKE) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,178,482 shares of the footwear maker’s stock after selling 115,294 shares during the quarter. Bank of America Corp DE owned about 0.96% of NIKE worth $748,907,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Hamilton Wealth LLC purchased a new stake in NIKE during the first quarter worth about $899,000. Edgestream Partners L.P. acquired a new stake in shares of NIKE during the 1st quarter valued at approximately $234,000. Centaurus Financial Inc. lifted its position in shares of NIKE by 77.8% during the 1st quarter. Centaurus Financial Inc. now owns 6,498 shares of the footwear maker’s stock valued at $343,000 after acquiring an additional 2,843 shares during the period. Arkadios Wealth Advisors boosted its stake in shares of NIKE by 35.2% during the 1st quarter. Arkadios Wealth Advisors now owns 79,352 shares of the footwear maker’s stock worth $4,191,000 after acquiring an additional 20,643 shares in the last quarter. Finally, South Dakota Investment Council boosted its stake in shares of NIKE by 62.6% during the 1st quarter. South Dakota Investment Council now owns 208,477 shares of the footwear maker’s stock worth $11,012,000 after acquiring an additional 80,300 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Stifel Nicolaus set a $45.00 target price on NIKE and gave the company a “hold” rating in a report on Wednesday, July 1st. Robert W. Baird reaffirmed an “outperform” rating and set a $70.00 price target on shares of NIKE in a research note on Wednesday, July 1st. Sanford C. Bernstein reiterated an “outperform” rating and issued a $68.00 price objective (down from $72.00) on shares of NIKE in a research report on Wednesday. BNP Paribas Exane reissued an “underperform” rating on shares of NIKE in a research note on Wednesday, July 22nd. Finally, UBS Group set a $48.00 target price on shares of NIKE and gave the company a “neutral” rating 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 given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $53.74.

Insider Transactions at NIKE

In related news, EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total transaction of $803,439.64. Following the sale, the executive vice president directly owned 53,133 shares in the company, valued at $2,453,681.94. The trade was a 24.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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. Company insiders own 1.10% of the company’s stock.

NIKE Trading Down 1.0%

Shares of NKE opened at $41.86 on Friday. The stock’s 50-day moving average is $43.56 and its two-hundred day moving average is $50.36. The stock has a market cap of $62.10 billion, a PE ratio of 20.03, a P/E/G ratio of 1.88 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 company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.14 earnings per share. Equities analysts forecast that NIKE, Inc. will post 1.74 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Monday, June 1st. NIKE’s payout ratio is 78.47%.

About NIKE

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).