Schmidt P J Investment Management Inc. Cuts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Schmidt P J Investment Management Inc. reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 3.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,683 shares of the footwear maker’s stock after selling 1,499 shares during the period. NIKE accounts for about 1.5% of Schmidt P J Investment Management Inc.’s portfolio, making the stock its 21st largest holding. Schmidt P J Investment Management Inc.’s holdings in NIKE were worth $6,103,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Sound Income Strategies LLC boosted its holdings in shares of NIKE by 163.8% during the 3rd quarter. Sound Income Strategies LLC now owns 248 shares of the footwear maker’s stock worth $31,000 after purchasing an additional 154 shares during the last quarter. Newfound Research LLC acquired a new position in shares of NIKE during the 3rd quarter worth approximately $32,000. Demars Financial Group LLC acquired a new position in shares of NIKE during the 2nd quarter worth approximately $42,000. Simon Quick Advisors LLC boosted its holdings in shares of NIKE by 43.9% during the 3rd quarter. Simon Quick Advisors LLC now owns 472 shares of the footwear maker’s stock worth $59,000 after purchasing an additional 144 shares during the last quarter. Finally, U S Global Investors Inc. acquired a new position in shares of NIKE during the 2nd quarter worth approximately $53,000. Institutional investors own 64.20% of the company’s stock.

NIKE stock opened at $120.08 on Friday. NIKE, Inc. has a twelve month low of $60.00 and a twelve month high of $131.38. The stock’s fifty day simple moving average is $124.67 and its 200-day simple moving average is $104.58. The company has a current ratio of 2.55, a quick ratio of 1.77 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $188.50 billion, a P/E ratio of 71.90, a P/E/G ratio of 2.70 and a beta of 0.80.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, September 22nd. The footwear maker reported $0.95 EPS for the quarter, beating the consensus estimate of $0.46 by $0.49. The firm had revenue of $10.59 billion for the quarter, compared to analyst estimates of $9.15 billion. NIKE had a return on equity of 34.62% and a net margin of 7.20%. NIKE’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 earnings per share. Sell-side analysts predict that NIKE, Inc. will post 2.83 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, August 31st were issued a $0.245 dividend. This represents a $0.98 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Friday, August 28th. NIKE’s dividend payout ratio (DPR) is presently 52.97%.

In related news, insider Heidi O’neill sold 30,000 shares of the stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $130.00, for a total value of $3,900,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Andrew Campion sold 5,043 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $97.12, for a total value of $489,776.16. The disclosure for this sale can be found here. Insiders sold 791,319 shares of company stock worth $98,440,914 in the last three months. 3.80% of the stock is currently owned by corporate insiders.

Several research analysts have recently weighed in on NKE shares. Wells Fargo & Company boosted their target price on NIKE from $110.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, September 23rd. Raymond James upped their price objective on NIKE from $115.00 to $121.00 and gave the company an “outperform” rating in a report on Friday, September 18th. Argus upped their price objective on NIKE from $115.00 to $145.00 in a report on Thursday, September 24th. TheStreet upgraded NIKE from a “c+” rating to a “b” rating in a report on Tuesday, September 22nd. Finally, Robert W. Baird upped their price objective on NIKE from $95.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, September 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $137.03.

NIKE Profile

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.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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