Morse Asset Management Inc Lowers Position in NIKE, Inc. (NYSE:NKE)

Morse Asset Management Inc cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 25.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,466 shares of the footwear maker’s stock after selling 3,509 shares during the period. Morse Asset Management Inc’s holdings in NIKE were worth $984,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NKE. Iron Horse Wealth Management LLC raised its holdings in NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Annapolis Financial Services LLC raised its holdings in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the period. Planned Solutions Inc. bought a new stake in NIKE during the fourth quarter valued at about $29,000. True Wealth Design LLC raised its holdings in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares during the period. Finally, Core Wealth Advisors Inc. raised its holdings in NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after acquiring an additional 241 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. reissued a “neutral” rating and set a $83.00 price target (down from $116.00) on shares of NIKE in a report on Friday, June 28th. Morgan Stanley reissued an “equal weight” rating and set a $79.00 price target (down from $114.00) on shares of NIKE in a report on Friday, June 28th. Telsey Advisory Group reduced their target price on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. HSBC reduced their target price on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Finally, Evercore ISI reduced their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $96.30.

Insider Activity at NIKE

In related news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now directly 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 quarter, insiders sold 323,660 shares of company stock worth $27,973,033. Company insiders own 0.50% of the company’s stock.

NIKE Trading Up 1.6 %

Shares of NYSE:NKE traded up $1.15 during trading hours on Friday, hitting $72.56. 8,891,986 shares of the company’s stock traded hands, compared to its average volume of 24,169,120. NIKE, Inc. has a 1 year low of $70.91 and a 1 year high of $123.39. The business has a fifty day moving average price of $85.51 and a 200-day moving average price of $93.62. The firm has a market capitalization of $109.52 billion, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 1.89 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. Equities analysts expect that NIKE, Inc. will post 3.12 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. Investors of record on Monday, June 3rd were issued a $0.37 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.04%. NIKE’s payout ratio is 39.68%.

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.