Avalon Global Asset Management LLC Reduces Holdings in NIKE, Inc. $NKE

Avalon Global Asset Management LLC lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 83.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,000 shares of the footwear maker’s stock after selling 100,000 shares during the period. Avalon Global Asset Management LLC’s holdings in NIKE were worth $1,421,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Mitchell Mcleod Pugh & Williams Inc. raised its position in NIKE by 1.0% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock worth $1,007,000 after acquiring an additional 134 shares in the last quarter. Caldwell Sutter Capital Inc. increased its position in NIKE by 6.3% during the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock worth $170,000 after buying an additional 142 shares in the last quarter. Salomon & Ludwin LLC raised its holdings in shares of NIKE by 10.1% in the second quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock worth $120,000 after acquiring an additional 145 shares during the last quarter. Westmount Partners LLC lifted its position in shares of NIKE by 2.9% in the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock valued at $367,000 after acquiring an additional 146 shares in the last quarter. Finally, HB Wealth Management LLC lifted its position in shares of NIKE by 0.3% in the second quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock valued at $3,695,000 after acquiring an additional 147 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $64.80, for a total value of $5,577,854.40. Following the completion of the transaction, the chairman owned 647,615 shares in the company, valued at approximately $41,965,452. This trade represents a 11.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is owned by company insiders.

NIKE Stock Performance

Shares of NKE stock opened at $65.90 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The firm has a market capitalization of $97.41 billion, a price-to-earnings ratio of 33.79, a price-to-earnings-growth ratio of 2.31 and a beta of 1.28. NIKE, Inc. has a one year low of $52.28 and a one year high of $82.44. The company has a 50 day moving average price of $66.04 and a 200 day moving average price of $69.22.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter last year, the business earned $0.70 EPS. NIKE’s revenue for the quarter was up 1.0% on a year-over-year basis. Sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a $0.41 dividend. The ex-dividend date is Monday, December 1st. This is an increase from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 2.5%. NIKE’s payout ratio is 84.10%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Stifel Nicolaus set a $68.00 price objective on NIKE and gave the stock a “hold” rating in a research report on Wednesday, October 1st. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of NIKE in a research note on Friday, October 10th. UBS Group set a $71.00 price target on shares of NIKE and gave the stock a “neutral” rating in a report on Friday, September 19th. Barclays set a $70.00 price objective on shares of NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of NIKE in a research report on Monday, December 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.24.

About NIKE

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.