Schmidt P J Investment Management Inc. Sells 936 Shares of NIKE, Inc. (NYSE:NKE)

Schmidt P J Investment Management Inc. cut its holdings in NIKE, Inc. (NYSE:NKE) by 7.6% during the third quarter, Holdings Channel.com reports. The fund owned 11,365 shares of the footwear maker’s stock after selling 936 shares during the period. Schmidt P J Investment Management Inc.’s holdings in NIKE were worth $1,005,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Annapolis Financial Services LLC boosted its position in shares of NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares in the last quarter. Transcendent Capital Group LLC boosted its position in shares of NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 200 shares in the last quarter. VitalStone Financial LLC boosted its position in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC boosted its position in shares of NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares in the last quarter. Finally, Triad Wealth Partners LLC bought a new position in shares of NIKE during the second quarter worth $44,000. 64.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Stifel Nicolaus reduced their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, August 26th. Sanford C. Bernstein reduced their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Telsey Advisory Group reduced their target price on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Robert W. Baird increased their target price on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Finally, Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and increased their target price for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.56.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by corporate insiders.

NIKE Stock Performance

Shares of NYSE NKE opened at $79.05 on Friday. 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, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The stock has a 50 day moving average of $82.86 and a 200-day moving average of $85.10. The company has a market capitalization of $118.52 billion, a P/E ratio of 22.65, a P/E/G ratio of 1.95 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the previous year, the company posted $0.94 EPS. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, equities research analysts predict that NIKE, Inc. will post 2.78 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.87%. NIKE’s dividend payout ratio is currently 42.41%.

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.