Venture Visionary Partners LLC Reduces Position in NIKE, Inc. (NYSE:NKE)

Venture Visionary Partners LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 24.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 18,665 shares of the footwear maker’s stock after selling 5,972 shares during the period. Venture Visionary Partners LLC’s holdings in NIKE were worth $1,650,000 at the end of the most recent quarter.

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

NIKE Price Performance

NKE opened at $81.49 on Tuesday. The company’s 50-day simple moving average is $82.77 and its two-hundred day simple moving average is $85.19. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The stock has a market capitalization of $123.00 billion, a P/E ratio of 21.85, a P/E/G ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the company posted $0.94 earnings per share. As a group, analysts predict that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio is 39.68%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. Sanford C. Bernstein decreased their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Guggenheim cut their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Finally, Evercore ISI decreased their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $96.56.

NIKE Profile

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.