Wendell David Associates Inc. Decreases Stock Holdings in NIKE, Inc. (NYSE:NKE)

Wendell David Associates Inc. reduced its stake in shares of NIKE, Inc. (NYSE:NKEGet Rating) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 190,604 shares of the footwear maker’s stock after selling 5,600 shares during the quarter. NIKE comprises about 2.9% of Wendell David Associates Inc.’s portfolio, making the stock its 6th biggest position. Wendell David Associates Inc.’s holdings in NIKE were worth $25,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stonnington Group LLC boosted its stake in NIKE by 883.7% in the fourth quarter. Stonnington Group LLC now owns 19,418 shares of the footwear maker’s stock valued at $2,919,000 after acquiring an additional 17,444 shares during the last quarter. Diversified Trust Co lifted its holdings in NIKE by 5.1% during the fourth quarter. Diversified Trust Co now owns 15,433 shares of the footwear maker’s stock worth $2,572,000 after acquiring an additional 749 shares in the last quarter. BlueSky Wealth Advisors LLC bought a new position in NIKE during the fourth quarter worth about $498,000. Stock Yards Bank & Trust Co. lifted its holdings in NIKE by 1.0% during the fourth quarter. Stock Yards Bank & Trust Co. now owns 240,040 shares of the footwear maker’s stock worth $40,008,000 after acquiring an additional 2,263 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in NIKE by 18.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 88,838 shares of the footwear maker’s stock worth $14,807,000 after acquiring an additional 14,011 shares in the last quarter. 65.35% of the stock is currently owned by institutional investors and hedge funds.

NIKE stock traded down $1.02 during trading hours on Monday, reaching $101.18. 347,354 shares of the company’s stock were exchanged, compared to its average volume of 7,356,134. The company has a quick ratio of 1.84, a current ratio of 2.63 and a debt-to-equity ratio of 0.58. The firm’s 50 day simple moving average is $113.82 and its 200 day simple moving average is $132.00. NIKE, Inc. has a twelve month low of $99.53 and a twelve month high of $179.10. The firm has a market capitalization of $159.23 billion, a PE ratio of 26.91, a PEG ratio of 2.06 and a beta of 1.00.

NIKE (NYSE:NKEGet Rating) last released its quarterly earnings data on Monday, June 27th. The footwear maker reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. The company had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $12.10 billion. NIKE had a net margin of 12.94% and a return on equity of 40.74%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 EPS. Analysts anticipate that NIKE, Inc. will post 3.93 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Monday, June 6th were paid a $0.305 dividend. The ex-dividend date was Friday, June 3rd. This represents a $1.22 annualized dividend and a yield of 1.21%. NIKE’s dividend payout ratio (DPR) is 32.45%.

A number of analysts have recently commented on NKE shares. Stifel Nicolaus cut their price target on NIKE from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, June 28th. BMO Capital Markets lowered their price target on NIKE from $142.00 to $128.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 28th. Citigroup lowered their price target on NIKE from $123.00 to $116.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 28th. HSBC lowered their price target on NIKE from $140.00 to $132.00 and set a “hold” rating on the stock in a research report on Tuesday, June 14th. Finally, Wells Fargo & Company reduced their price objective on NIKE from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, June 28th. Seven equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $144.96.

In other news, COO Andrew Campion sold 14,203 shares of NIKE stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $120.61, for a total transaction of $1,713,023.83. Following the completion of the sale, the chief operating officer now directly owns 73,795 shares of the company’s stock, valued at approximately $8,900,414.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. acquired 10,000 shares of the company’s stock in a transaction dated Thursday, June 30th. The shares were bought at an average cost of $102.96 per share, with a total value of $1,029,600.00. Following the completion of the acquisition, the director now directly owns 25,681 shares in the company, valued at approximately $2,644,115.76. The disclosure for this purchase can be found here. Company insiders own 3.70% of the company’s stock.

About NIKE (Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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