NIKE, Inc. $NKE Shares Sold by Tobam

Tobam lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 39.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,973 shares of the footwear maker’s stock after selling 14,440 shares during the period. Tobam’s holdings in NIKE were worth $1,400,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Main Street Financial Solutions LLC boosted its stake in NIKE by 4.2% in the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after acquiring an additional 139 shares during the period. Diligent Investors LLC grew its holdings in shares of NIKE by 4.3% during the fourth quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock valued at $237,000 after purchasing an additional 153 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of NIKE by 4.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock worth $253,000 after purchasing an additional 163 shares during the period. Lakeshore Capital Group Inc. raised its position in shares of NIKE by 2.9% during the 4th quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker’s stock worth $374,000 after purchasing an additional 165 shares during the period. Finally, ANB Bank lifted its holdings in shares of NIKE by 0.7% in the 4th quarter. ANB Bank now owns 25,451 shares of the footwear maker’s stock worth $1,621,000 after purchasing an additional 165 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insiders Place Their Bets

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of the business’s 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 approximately $2,453,681.94. The trade was a 24.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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. Also, Director Timothy D. Cook purchased 25,000 shares of the company’s stock in a transaction on Friday, April 10th. The shares were bought at an average price of $42.43 per share, for a total transaction of $1,060,750.00. Following the completion of the transaction, the director directly owned 130,480 shares in the company, valued at $5,536,266.40. This represents a 23.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 64,441 shares of company stock valued at $2,734,204. Corporate insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Guggenheim reduced their price objective on NIKE from $77.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. DA Davidson lowered NIKE from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $72.00 to $46.00 in a research report on Thursday, April 2nd. BTIG Research cut their target price on NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Weiss Ratings downgraded shares of NIKE from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, June 8th. Finally, Telsey Advisory Group lowered their price target on shares of NIKE from $65.00 to $55.00 and set a “market perform” rating for the company in a research report on Wednesday, April 1st. Fifteen research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $60.89.

Key Headlines Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Barclays reiterated a Buy rating on NIKE, which can support sentiment by signaling that analysts still see upside in the stock. Barclays Remains a Buy on Nike (NKE)
• Positive Sentiment: NIKE outperformed the broader market in the latest trading session, suggesting traders may be positioning ahead of upcoming earnings and looking for signs that the turnaround is taking hold. Nike (NKE) Outperforms Broader Market: What You Need to Know
• Positive Sentiment: Coverage highlighted stronger traction in one major market and signs that NIKE’s recovery is gaining momentum, which could improve confidence in the company’s earnings outlook. Headed Into Earnings, Nike Stock Is Trading Lower Than It Was a Decade Ago. But Is the Turnaround Finally Working?

NIKE Stock Up 0.0%

Shares of NIKE stock opened at $45.22 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45. NIKE, Inc. has a 1-year low of $41.35 and a 1-year high of $80.17. The business’s fifty day moving average price is $44.39 and its two-hundred day moving average price is $54.79. The company has a market capitalization of $66.97 billion, a P/E ratio of 29.95, a PEG ratio of 1.96 and a beta of 1.12.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. The company had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 earnings per share. As a group, research analysts forecast that NIKE, Inc. will post 1.49 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 3.6%. NIKE’s dividend payout ratio is presently 108.61%.

NIKE 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).