NIKE, Inc. $NKE Shares Sold by Wendell David Associates Inc.

Wendell David Associates Inc. decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 17.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,338 shares of the footwear maker’s stock after selling 21,004 shares during the period. Wendell David Associates Inc.’s holdings in NIKE were worth $5,405,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Financial Management LLC acquired a new stake in shares of NIKE during the fourth quarter valued at about $26,000. Sankala Group LLC purchased a new stake in shares of NIKE during the fourth quarter worth about $26,000. J.Safra Asset Management Corp acquired a new position in shares of NIKE in the fourth quarter worth about $29,000. Kemnay Advisory Services Inc. acquired a new position in shares of NIKE in the fourth quarter worth about $30,000. Finally, Litman Gregory Wealth Management LLC purchased a new position in NIKE in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Down 1.0%

NYSE:NKE opened at $41.08 on Wednesday. The company has a market cap of $60.84 billion, a PE ratio of 27.21, a P/E/G ratio of 1.81 and a beta of 1.12. The business’s 50 day moving average is $44.01 and its two-hundred day moving average is $53.56. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a 52 week low of $40.00 and a 52 week high of $80.17.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The business had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 EPS. On average, analysts predict that NIKE, Inc. will post 1.49 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s payout ratio is currently 108.61%.

NIKE News Roundup

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE posted fiscal Q4 earnings of $0.72 per share, far above analyst estimates, and revenue of about $10.97 billion also topped expectations. Nike Fourth-Quarter Revenue Slips as Expected Tariff Refunds Boost Earnings
• Positive Sentiment: Gross profit and operating profit improved sharply, helped by lower costs and a tariff refund, suggesting margins may be stabilizing. Nike earnings crushed Wall Street’s estimates, but there’s a catch
• Neutral Sentiment: International momentum continues to offset weakness in North America, which supports the case for a broader recovery but does not yet fully solve the growth problem. Does NIKE’s International Momentum Outrun North America Weakness?
• Neutral Sentiment: Analysts had already lowered expectations ahead of the report, so the earnings beat may have been partly anticipated by a very low bar. Nike (NKE) Will Report Q4 Earnings Tomorrow. Here’s What Analysts and Options Traders Expect
• Negative Sentiment: Revenue still declined about 1% year over year, and China sales fell 12%, reinforcing worries that demand remains uneven and the turnaround is taking longer than hoped. Nike earnings, revenue top estimates even as China sales drop 12%
• Negative Sentiment: Recent analyst commentary and target cuts, including JPMorgan’s lower price target, reflect ongoing caution around Nike’s ability to complete its turnaround quickly. Nike Stock Slides Despite Q4 Earnings Beat As Turnaround Drags On

Insider Transactions at NIKE

In other news, EVP Philip Mccartney sold 17,398 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed 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. Also, Director Robert Holmes Swan purchased 11,781 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The stock was acquired at an average cost of $42.44 per share, with a total value of $499,985.64. Following the completion of the acquisition, the director directly owned 55,074 shares in the company, valued at approximately $2,337,340.56. This trade represents a 27.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 64,441 shares of company stock valued at $2,734,204 over the last quarter. Insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NKE. BNP Paribas Exane restated an “underperform” rating on shares of NIKE in a research note on Tuesday, June 23rd. Berenberg Bank reaffirmed a “neutral” rating on shares of NIKE in a research report on Wednesday, May 6th. Zacks Research cut NIKE from a “hold” rating to a “strong sell” rating in a research note on Monday, June 1st. DZ Bank reissued a “buy” rating on shares of NIKE in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada lowered shares of NIKE from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $70.00 to $50.00 in a research note on Wednesday, June 10th. Fourteen equities research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $58.07.

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).