Stonehage Fleming Financial Services Holdings Ltd trimmed its holdings in shares of Nike Inc (NYSE:NKE) by 35.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 833,048 shares of the footwear maker’s stock after selling 452,295 shares during the period. Nike comprises 5.5% of Stonehage Fleming Financial Services Holdings Ltd’s investment portfolio, making the stock its 7th biggest holding. Stonehage Fleming Financial Services Holdings Ltd owned approximately 0.05% of Nike worth $81,531,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of NKE. Stuart Chaussee & Associates Inc. grew its holdings in shares of Nike by 668.9% in the 1st quarter. Stuart Chaussee & Associates Inc. now owns 346 shares of the footwear maker’s stock worth $29,000 after acquiring an additional 301 shares during the period. Perennial Advisors LLC acquired a new stake in shares of Nike in the 1st quarter worth approximately $30,000. Bainco International Investors acquired a new stake in shares of Nike in the 1st quarter worth approximately $52,000. U S Global Investors Inc. acquired a new stake in shares of Nike in the 2nd quarter worth approximately $53,000. Finally, Endurance Wealth Management Inc. acquired a new stake in shares of Nike in the 1st quarter worth approximately $57,000. 64.20% of the stock is owned by institutional investors and hedge funds.
Shares of NKE traded up $0.19 during trading hours on Tuesday, hitting $119.47. The stock had a trading volume of 245,965 shares, compared to its average volume of 7,766,909. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.59 and a current ratio of 2.48. The firm has a market cap of $186.06 billion, a P/E ratio of 75.96, a P/E/G ratio of 3.13 and a beta of 0.83. The company’s fifty day simple moving average is $107.26 and its 200 day simple moving average is $94.68. Nike Inc has a 12-month low of $60.00 and a 12-month high of $119.93.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, August 31st will be given a $0.245 dividend. This represents a $0.98 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Friday, August 28th. Nike’s dividend payout ratio (DPR) is presently 52.97%.
In other Nike news, CAO Hilary K. Krane sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, July 14th. The stock was sold at an average price of $96.33, for a total value of $1,059,630.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Heidi O’neill sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $105.00, for a total value of $1,050,000.00. The disclosure for this sale can be found here. Insiders sold 143,356 shares of company stock worth $14,962,435 over the last three months. 3.80% of the stock is currently owned by corporate insiders.
NKE has been the topic of a number of research reports. Pivotal Research restated a “buy” rating and issued a $115.00 price target on shares of Nike in a report on Tuesday, June 23rd. Wells Fargo & Company increased their target price on Nike from $99.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Telsey Advisory Group increased their target price on Nike from $95.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, June 19th. Robert W. Baird increased their target price on Nike from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $100.00 target price on shares of Nike in a report on Friday, June 26th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-seven have issued a buy rating to the stock. Nike has a consensus rating of “Buy” and a consensus price target of $112.90.
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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