Stokes Capital Advisors LLC Sells 544 Shares of NIKE, Inc. (NYSE:NKE)

Stokes Capital Advisors LLC decreased its stake in NIKE, Inc. (NYSE:NKE) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,362 shares of the footwear maker’s stock after selling 544 shares during the period. Stokes Capital Advisors LLC’s holdings in NIKE were worth $4,776,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NKE. Tennessee Valley Asset Management Partners acquired a new stake in shares of NIKE during the fourth quarter valued at about $51,000. Tyche Wealth Partners LLC bought a new stake in NIKE during the 4th quarter worth approximately $354,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of NIKE by 7.3% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 15,458 shares of the footwear maker’s stock valued at $1,678,000 after acquiring an additional 1,052 shares during the last quarter. Twin Capital Management Inc. lifted its holdings in NIKE by 2.3% during the 4th quarter. Twin Capital Management Inc. now owns 6,574 shares of the footwear maker’s stock worth $714,000 after buying an additional 145 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group increased its stake in shares of NIKE by 17.1% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 16,321 shares of the footwear maker’s stock valued at $1,772,000 after buying an additional 2,380 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

NKE traded up $0.73 during midday trading on Friday, reaching $83.23. The company had a trading volume of 13,794,181 shares, compared to its average volume of 11,563,057. 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 has a market cap of $125.62 billion, a PE ratio of 22.31, a P/E/G ratio of 1.92 and a beta of 1.01. The business has a 50-day moving average price of $80.17 and a two-hundred day moving average price of $90.77. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the business posted $0.66 earnings per share. On average, sell-side analysts expect that NIKE, Inc. will post 3.12 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s payout ratio is currently 39.68%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on NKE shares. Jefferies Financial Group dropped their price target on shares of NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. Citigroup dropped their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Telsey Advisory Group cut their target price on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Stifel Nicolaus reiterated a “hold” rating and issued a $88.00 target price (down from $117.00) on shares of NIKE in a report on Friday, June 28th. Finally, Guggenheim cut their target price on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average price target of $96.59.

Insider Buying and Selling

In related news, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the company’s 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 owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

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.