Optas LLC Sells 1,777 Shares of NIKE, Inc. (NYSE:NKE)

Optas LLC lessened its holdings in NIKE, Inc. (NYSE:NKE) by 20.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,858 shares of the footwear maker’s stock after selling 1,777 shares during the period. Optas LLC’s holdings in NIKE were worth $645,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NKE. Annapolis Financial Services LLC boosted its stake in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares during the period. Iron Horse Wealth Management LLC lifted its stake in NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares during the period. Planned Solutions Inc. purchased a new stake in NIKE in the fourth quarter worth about $29,000. True Wealth Design LLC lifted its stake in NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the period. Finally, Frank Rimerman Advisors LLC purchased a new stake in NIKE in the fourth quarter worth about $33,000. Institutional investors own 64.25% of the company’s stock.

Insider Activity

In other news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

NKE has been the subject of a number of research reports. UBS Group reaffirmed a “neutral” rating and issued a $78.00 price objective on shares of NIKE in a research note on Friday. Wells Fargo & Company cut their price objective on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a report on Friday. Sanford C. Bernstein cut their price objective on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Evercore ISI cut their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Barclays downgraded shares of NIKE from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $109.00 to $80.00 in a report on Friday. 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 company’s stock. Based on data from MarketBeat.com, NIKE has an average rating of “Hold” and an average target price of $98.96.

NIKE Stock Performance

NIKE stock traded down $18.82 during mid-day trading on Friday, hitting $75.37. The company had a trading volume of 129,966,982 shares, compared to its average volume of 9,446,953. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a 12-month low of $74.55 and a 12-month high of $123.39. The company’s fifty day moving average is $93.28 and its 200-day moving average is $98.85. The company has a market capitalization of $113.76 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 1.43 and a beta of 1.05.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.87% and a net margin of 11.10%. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the prior year, the firm posted $0.66 EPS. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities research analysts predict that NIKE, Inc. will post 3.9 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.96%. NIKE’s dividend payout ratio (DPR) is 39.68%.

NIKE Profile

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.