Slow Capital Inc. Lowers Stake in Nike Inc (NYSE:NKE)

Slow Capital Inc. cut its position in shares of Nike Inc (NYSE:NKE) by 3.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,650 shares of the footwear maker’s stock after selling 1,254 shares during the quarter. Nike makes up 1.2% of Slow Capital Inc.’s investment portfolio, making the stock its 19th largest position. Slow Capital Inc.’s holdings in Nike were worth $2,909,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Trustcore Financial Services LLC grew its holdings in Nike by 2.9% in the second quarter. Trustcore Financial Services LLC now owns 4,261 shares of the footwear maker’s stock valued at $358,000 after purchasing an additional 120 shares during the period. Merriman Wealth Management LLC grew its holdings in Nike by 1.0% in the second quarter. Merriman Wealth Management LLC now owns 12,337 shares of the footwear maker’s stock valued at $1,054,000 after purchasing an additional 126 shares during the period. Midwest Professional Planners LTD. grew its holdings in Nike by 1.0% in the first quarter. Midwest Professional Planners LTD. now owns 12,794 shares of the footwear maker’s stock valued at $1,077,000 after purchasing an additional 127 shares during the period. Arcadia Investment Management Corp MI grew its holdings in Nike by 45.4% in the first quarter. Arcadia Investment Management Corp MI now owns 410 shares of the footwear maker’s stock valued at $35,000 after purchasing an additional 128 shares during the period. Finally, First Personal Financial Services grew its holdings in Nike by 14.9% in the second quarter. First Personal Financial Services now owns 992 shares of the footwear maker’s stock valued at $83,000 after purchasing an additional 129 shares during the period. Institutional investors and hedge funds own 66.15% of the company’s stock.

A number of equities research analysts recently issued reports on NKE shares. Bank of America upgraded shares of Nike to an “underperform” rating and boosted their target price for the company from $60.00 to $70.00 in a report on Monday, June 24th. Pivotal Research set a $101.00 price target on shares of Nike and gave the company a “buy” rating in a research report on Friday, June 28th. Zacks Investment Research raised shares of Nike from a “sell” rating to a “hold” rating and set a $95.00 price target on the stock in a research report on Monday, May 27th. Macquarie set a $89.00 price target on shares of Nike and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Stifel Nicolaus set a $96.00 price target on shares of Nike and gave the company a “buy” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the stock. Nike currently has a consensus rating of “Buy” and an average price target of $90.02.

In other news, EVP John F. Slusher sold 110,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $85.26, for a total transaction of $9,378,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Elizabeth J. Comstock sold 24,000 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $84.84, for a total transaction of $2,036,160.00. Following the transaction, the director now owns 38,813 shares of the company’s stock, valued at approximately $3,292,894.92. The disclosure for this sale can be found here. Insiders have sold 194,637 shares of company stock valued at $16,767,237 in the last 90 days. Insiders own 3.80% of the company’s stock.

Shares of Nike stock traded up $1.57 during trading on Tuesday, hitting $83.22. 514,207 shares of the stock were exchanged, compared to its average volume of 5,893,064. The company has a fifty day moving average of $85.43. The stock has a market cap of $128.45 billion, a PE ratio of 33.43, a PEG ratio of 2.17 and a beta of 0.78. The company has a current ratio of 2.10, a quick ratio of 1.39 and a debt-to-equity ratio of 0.38. Nike Inc has a 12 month low of $66.53 and a 12 month high of $90.00.

Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $0.62 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.04). The firm had revenue of $10.18 billion for the quarter, compared to the consensus estimate of $10.15 billion. Nike had a return on equity of 45.12% and a net margin of 10.30%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 EPS. Sell-side analysts expect that Nike Inc will post 2.9 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.22 per share. The ex-dividend date is Friday, August 30th. This represents a $0.88 annualized dividend and a dividend yield of 1.06%. Nike’s dividend payout ratio is currently 35.34%.

Nike Company Profile

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: 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, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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