Wambolt & Associates LLC Sells 700 Shares of NIKE, Inc. (NYSE:NKE)

Wambolt & Associates LLC lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 17.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,385 shares of the footwear maker’s stock after selling 700 shares during the period. Wambolt & Associates LLC’s holdings in NIKE were worth $260,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Annapolis Financial Services LLC raised its position in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares during the last quarter. True Wealth Design LLC grew its stake in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $33,000. Core Wealth Advisors Inc. lifted its position in shares of NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. acquired a new position in NIKE during the fourth quarter worth $36,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is owned by insiders.

NIKE Stock Performance

NYSE NKE opened at $78.40 on Friday. The firm has a 50-day moving average price of $77.16 and a two-hundred day moving average price of $88.05. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a market capitalization of $117.55 billion, a P/E ratio of 21.02, a P/E/G ratio of 2.08 and a beta of 1.02. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same period in the previous year, the company posted $0.66 earnings per share. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. Analysts anticipate that NIKE, Inc. will post 3.06 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Tuesday, September 3rd. NIKE’s payout ratio is currently 39.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NKE shares. The Goldman Sachs Group lowered their price target on shares of NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. UBS Group reiterated a “neutral” rating and set a $78.00 target price on shares of NIKE in a report on Friday, June 28th. Oppenheimer restated an “outperform” rating and issued a $120.00 price target on shares of NIKE in a research note on Friday, June 28th. Telsey Advisory Group lowered their price target on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Finally, Citigroup cut their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a report on Friday, June 28th. Fourteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $95.59.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.