Bradley Foster & Sargent Inc. CT Cuts Stock Position in NIKE, Inc. (NYSE:NKE)

Bradley Foster & Sargent Inc. CT lowered its stake in NIKE, Inc. (NYSE:NKE) by 20.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 266,158 shares of the footwear maker’s stock after selling 67,535 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in NIKE were worth $20,060,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Beta Wealth Group Inc. grew its position in shares of NIKE by 2.3% during the fourth quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock valued at $489,000 after purchasing an additional 101 shares in the last quarter. Kampmann Melissa S. grew its position in NIKE by 0.8% in the fourth quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock worth $1,634,000 after acquiring an additional 115 shares in the last quarter. Ascent Wealth Partners LLC grew its position in NIKE by 0.4% in the first quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after acquiring an additional 115 shares in the last quarter. Condor Capital Management grew its position in NIKE by 0.4% in the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after acquiring an additional 116 shares in the last quarter. Finally, Bell Investment Advisors Inc grew its position in NIKE by 4.7% in the fourth quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock worth $283,000 after acquiring an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on NKE. Jefferies Financial Group dropped their price target on NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. Raymond James restated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Wells Fargo & Company dropped their target price on NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. Wedbush dropped their target price on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Finally, Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and boosted their target price for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $95.59.

NIKE Stock Performance

Shares of NKE opened at $80.64 on Wednesday. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The stock has a fifty day moving average price of $77.52 and a 200-day moving average price of $87.32. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The firm has a market cap of $121.71 billion, a PE ratio of 21.62, a P/E/G ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the prior year, the business posted $0.66 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities research analysts predict that NIKE, Inc. will post 3.06 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.84%. NIKE’s dividend payout ratio is presently 39.68%.

Insider Activity

In other news, Director Robert Holmes Swan bought 2,941 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on 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 directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert Holmes Swan bought 2,941 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was 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 owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.

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.