Rehmann Capital Advisory Group Sells 140 Shares of NIKE, Inc. (NYSE:NKE)

Rehmann Capital Advisory Group reduced its stake in shares of NIKE, Inc. (NYSE:NKEFree Report) by 1.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,365 shares of the footwear maker’s stock after selling 140 shares during the quarter. Rehmann Capital Advisory Group’s holdings in NIKE were worth $692,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Penserra Capital Management LLC lifted its position in NIKE by 127.2% during the 3rd quarter. Penserra Capital Management LLC now owns 18,171 shares of the footwear maker’s stock valued at $1,736,000 after acquiring an additional 10,173 shares during the period. Creative Planning raised its stake in NIKE by 40.9% during the third quarter. Creative Planning now owns 611,664 shares of the footwear maker’s stock valued at $58,487,000 after buying an additional 177,484 shares during the last quarter. Resources Management Corp CT ADV boosted its holdings in NIKE by 2.7% in the third quarter. Resources Management Corp CT ADV now owns 16,035 shares of the footwear maker’s stock worth $1,533,000 after acquiring an additional 420 shares in the last quarter. Diversified Trust Co increased its holdings in shares of NIKE by 7.1% during the third quarter. Diversified Trust Co now owns 14,572 shares of the footwear maker’s stock valued at $1,393,000 after acquiring an additional 966 shares in the last quarter. Finally, Kampmann Melissa S. purchased a new stake in NIKE during the 3rd quarter valued at about $1,428,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE traded down $0.21 during trading hours on Wednesday, hitting $72.25. 17,169,613 shares of the stock were exchanged, compared to its average volume of 11,101,002. NIKE, Inc. has a 12-month low of $71.67 and a 12-month high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The stock’s 50-day moving average price is $90.63 and its two-hundred day moving average price is $96.64. The company has a market cap of $109.05 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 1.87 and a beta of 1.01.

NIKE (NYSE:NKEGet Free Report) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the company posted $0.66 EPS. Research analysts expect that NIKE, Inc. will post 3.17 earnings per share for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Monday, June 3rd. NIKE’s payout ratio is presently 39.68%.

Insider Activity at NIKE

In other NIKE news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares in the company, valued at approximately $4,236,917.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares of the company’s stock, valued at approximately $68,357.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 213,660 shares of company stock worth $19,946,333. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $83.00 target price (down previously from $116.00) on shares of NIKE in a report on Friday, June 28th. Bank of America reduced their price objective on NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a report on Friday, June 28th. BMO Capital Markets lowered their target price on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. TD Cowen reduced their price target on shares of NIKE from $89.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Finally, Wedbush dropped their target price on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $97.19.

Read Our Latest Analysis on NKE

NIKE Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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