Vision Capital Management Inc. Sells 36,559 Shares of NIKE, Inc. $NKE

Vision Capital Management Inc. lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 58.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 26,243 shares of the footwear maker’s stock after selling 36,559 shares during the quarter. Vision Capital Management Inc.’s holdings in NIKE were worth $1,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of NKE. Exchange Traded Concepts LLC boosted its position in shares of NIKE by 697.5% during the third quarter. Exchange Traded Concepts LLC now owns 228,889 shares of the footwear maker’s stock valued at $15,960,000 after buying an additional 200,187 shares during the period. Soros Fund Management LLC lifted its stake in shares of NIKE by 33.0% during the 2nd quarter. Soros Fund Management LLC now owns 302,320 shares of the footwear maker’s stock worth $21,477,000 after acquiring an additional 75,000 shares during the last quarter. Brighton Jones LLC increased its stake in NIKE by 54.6% in the third quarter. Brighton Jones LLC now owns 104,791 shares of the footwear maker’s stock worth $7,307,000 after purchasing an additional 37,019 shares during the period. Soltis Investment Advisors LLC increased its stake in NIKE by 238.8% in the second quarter. Soltis Investment Advisors LLC now owns 141,356 shares of the footwear maker’s stock worth $10,042,000 after purchasing an additional 99,638 shares during the period. Finally, Banco Santander S.A. lifted its position in shares of NIKE by 28.3% during the second quarter. Banco Santander S.A. now owns 221,117 shares of the footwear maker’s stock worth $15,708,000 after purchasing an additional 48,764 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In other news, Director Timothy D. Cook purchased 50,000 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were acquired at an average cost of $58.97 per share, with a total value of $2,948,500.00. Following the completion of the acquisition, the director owned 105,480 shares of the company’s stock, valued at $6,220,155.60. This trade represents a 90.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Elliott Hill purchased 16,388 shares of NIKE stock in a transaction dated Monday, December 29th. The shares were acquired at an average cost of $61.10 per share, for a total transaction of $1,001,306.80. Following the completion of the transaction, the chief executive officer owned 241,587 shares of the company’s stock, valued at approximately $14,760,965.70. This represents a 7.28% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 91,229 shares of company stock worth $5,452,640. 0.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Royal Bank Of Canada restated an “outperform” rating on shares of NIKE in a report on Tuesday. KeyCorp set a $90.00 target price on shares of NIKE and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Weiss Ratings lowered shares of NIKE from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, December 29th. Needham & Company LLC lowered NIKE from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Berenberg Bank reissued a “neutral” rating and issued a $70.00 price objective on shares of NIKE in a research note on Friday, December 19th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.45.

NIKE Stock Down 3.3%

Shares of NYSE NKE opened at $63.20 on Thursday. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The stock’s fifty day simple moving average is $63.42 and its two-hundred day simple moving average is $69.45. The stock has a market capitalization of $93.43 billion, a PE ratio of 37.18, a price-to-earnings-growth ratio of 2.81 and a beta of 1.28. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The firm had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.19 billion. During the same period in the prior year, the business posted $0.78 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. As a group, analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, December 1st. This is an increase from NIKE’s previous quarterly dividend of $0.40. NIKE’s payout ratio is presently 96.47%.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).