Merriman Wealth Management LLC reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 7.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,782 shares of the footwear maker’s stock after selling 658 shares during the quarter. Merriman Wealth Management LLC’s holdings in NIKE were worth $1,103,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Beaumont Asset Management L.L.C. purchased a new position in shares of NIKE in the 2nd quarter worth about $384,000. Palisade Capital Management LLC NJ lifted its stake in shares of NIKE by 8.8% in the 2nd quarter. Palisade Capital Management LLC NJ now owns 35,300 shares of the footwear maker’s stock valued at $3,461,000 after acquiring an additional 2,850 shares during the last quarter. Kentucky Retirement Systems bought a new stake in shares of NIKE in the 2nd quarter valued at about $6,769,000. Creative Financial Designs Inc. ADV bought a new stake in shares of NIKE in the 2nd quarter valued at about $87,000. Finally, Carroll Financial Associates Inc. lifted its stake in shares of NIKE by 8.7% in the 2nd quarter. Carroll Financial Associates Inc. now owns 11,954 shares of the footwear maker’s stock valued at $1,172,000 after acquiring an additional 958 shares during the last quarter. Institutional investors and hedge funds own 64.20% of the company’s stock.
NKE has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on NIKE from $121.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, September 18th. Pivotal Research upped their price target on NIKE from $118.00 to $137.00 and gave the company a “buy” rating in a research report on Thursday, September 17th. Argus upped their price target on NIKE from $115.00 to $145.00 in a research report on Thursday, September 24th. Rowe upped their price target on NIKE from $150.00 to $160.00 and gave the company a “positive” rating in a research report on Wednesday, September 23rd. Finally, Wedbush upped their price target on NIKE from $127.00 to $142.00 and gave the company an “outperform” rating in a research report on Wednesday, September 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $137.03.
NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 22nd. The footwear maker reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.49. NIKE had a net margin of 7.20% and a return on equity of 34.62%. The business had revenue of $10.59 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the previous year, the business posted $0.27 earnings per share. The company’s revenue was down .6% on a year-over-year basis. As a group, equities analysts forecast that NIKE, Inc. will post 2.83 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, August 31st were paid a dividend of $0.245 per share. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.98 annualized dividend and a yield of 0.76%. NIKE’s dividend payout ratio is currently 52.97%.
In other news, Chairman Mark G. Parker sold 95,906 shares of the company’s stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $127.06, for a total value of $12,185,816.36. Following the completion of the transaction, the chairman now directly owns 1,519,541 shares in the company, valued at $193,072,879.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andrew Campion sold 5,043 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $97.12, for a total transaction of $489,776.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 785,649 shares of company stock valued at $97,741,803. 3.80% of the stock is owned by insiders.
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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