Polaris Wealth Advisory Group LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 99.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,954 shares of the footwear maker’s stock after selling 237,045 shares during the quarter. Polaris Wealth Advisory Group LLC’s holdings in NIKE were worth $250,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in NKE. Public Employees Retirement Association of Colorado raised its stake in NIKE by 14.0% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 2,101,180 shares of the footwear maker’s stock valued at $173,852,000 after purchasing an additional 258,577 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in NIKE by 50.4% during the 1st quarter. Loomis Sayles & Co. L P now owns 22,553 shares of the footwear maker’s stock valued at $1,866,000 after purchasing an additional 7,554 shares during the last quarter. Cohen & Steers Inc. acquired a new position in shares of NIKE in the 1st quarter valued at $123,000. APG Asset Management N.V. raised its stake in shares of NIKE by 27.8% in the 1st quarter. APG Asset Management N.V. now owns 3,474,337 shares of the footwear maker’s stock valued at $287,467,000 after buying an additional 754,963 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of NIKE by 43.0% in the 1st quarter. Advisors Asset Management Inc. now owns 29,884 shares of the footwear maker’s stock valued at $2,473,000 after buying an additional 8,992 shares in the last quarter. Hedge funds and other institutional investors own 64.20% of the company’s stock.
Shares of NYSE:NKE opened at $128.00 on Friday. NIKE, Inc. has a 12 month low of $60.00 and a 12 month high of $131.34. The company’s 50-day moving average price is $120.42 and its two-hundred day moving average price is $101.42. The company has a quick ratio of 1.77, a current ratio of 2.55 and a debt-to-equity ratio of 1.02. The firm has a market cap of $199.67 billion, a P/E ratio of 76.65, a P/E/G ratio of 2.80 and a beta of 0.80.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, August 31st were paid a $0.245 dividend. This represents a $0.98 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Friday, August 28th. NIKE’s dividend payout ratio (DPR) is presently 52.97%.
In other news, Director Elizabeth J. Comstock sold 28,000 shares of the firm’s stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $122.55, for a total value of $3,431,400.00. Following the transaction, the director now owns 46,433 shares of the company’s stock, valued at approximately $5,690,364.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andrew Campion sold 5,043 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $97.12, for a total transaction of $489,776.16. The disclosure for this sale can be found here. Insiders sold a total of 841,962 shares of company stock worth $103,292,012 in the last ninety days. Insiders own 3.80% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of NIKE from $121.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, September 18th. DZ Bank restated a “sell” rating on shares of NIKE in a research note on Friday, June 26th. Bank of America increased their price objective on shares of NIKE from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, September 23rd. Barclays restated a “buy” rating and issued a $150.00 price objective on shares of NIKE in a research note on Wednesday, September 23rd. Finally, Telsey Advisory Group increased their price objective on shares of NIKE from $110.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, September 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $137.03.
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, including 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, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
Further Reading: What are popular green investing opportunities?
Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE).
Receive News & Ratings for NIKE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIKE and related companies with MarketBeat.com's FREE daily email newsletter.