Harbour Capital Advisors LLC Sells 2,971 Shares of NIKE, Inc. (NYSE:NKE)

by · The Cerbat Gem

Harbour Capital Advisors LLC reduced its position in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 27.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,983 shares of the footwear maker’s stock after selling 2,971 shares during the period. Harbour Capital Advisors LLC’s holdings in NIKE were worth $658,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its holdings in shares of NIKE by 86.0% during the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after buying an additional 9,689 shares in the last quarter. FORA Capital LLC bought a new position in shares of NIKE in the first quarter worth about $3,412,000. Cetera Advisors LLC boosted its stake in shares of NIKE by 85.5% in the 1st quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock valued at $8,298,000 after purchasing an additional 40,704 shares in the last quarter. Koshinski Asset Management Inc. bought a new stake in shares of NIKE during the 1st quarter valued at approximately $713,000. Finally, New Mexico Educational Retirement Board increased its position in NIKE by 15.7% during the 1st quarter. New Mexico Educational Retirement Board now owns 74,248 shares of the footwear maker’s stock worth $6,978,000 after purchasing an additional 10,100 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is owned by company insiders.

NIKE Trading Down 0.6 %

NKE opened at $83.41 on Friday. The company has a fifty day moving average price of $82.46 and a two-hundred day moving average price of $85.38. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a market cap of $125.90 billion, a P/E ratio of 22.36, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE – Get Free Report) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 EPS. Analysts predict that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Analysts Set New Price Targets

A number of brokerages have weighed in on NKE. TD Cowen raised their target price on shares of NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research report on Wednesday, October 2nd. Telsey Advisory Group dropped their target price on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Wells Fargo & Company boosted their price target on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. HSBC cut their target price on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Finally, Guggenheim decreased their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

View Our Latest Research Report on NIKE

About NIKE

(Free Report)

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.

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