US Asset Management LLC Sells 301 Shares of NIKE, Inc. (NYSE:NKE)

US Asset Management LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,637 shares of the footwear maker’s stock after selling 301 shares during the quarter. US Asset Management LLC’s holdings in NIKE were worth $351,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NKE. Norges Bank purchased a new position in NIKE in the fourth quarter worth $1,126,288,000. Wellington Management Group LLP grew its holdings in NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares during the last quarter. Pacer Advisors Inc. grew its holdings in NIKE by 6,029.6% in the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after purchasing an additional 6,709,985 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock worth $196,901,000 after purchasing an additional 2,416,601 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Robert Holmes Swan purchased 8,600 shares of NIKE stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the transaction, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

NIKE Trading Up 2.2%

Shares of NIKE stock opened at $61.30 on Friday. The firm has a 50-day simple moving average of $60.15 and a two-hundred day simple moving average of $70.31. The company has a market cap of $90.67 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. The company’s revenue was down 9.1% compared to the same quarter last year. As a group, equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.61%. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Analyst Ratings Changes

NKE has been the topic of several analyst reports. China Renaissance initiated coverage on shares of NIKE in a report on Wednesday, March 19th. They issued a “hold” rating on the stock. The Goldman Sachs Group dropped their price objective on shares of NIKE from $88.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Berenberg Bank started coverage on shares of NIKE in a report on Tuesday, April 15th. They set a “hold” rating and a $58.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on shares of NIKE from $64.00 to $56.00 and set a “neutral” rating on the stock in a report on Monday, May 5th. Finally, Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and boosted their price objective for the company from $75.00 to $115.00 in a report on Monday, February 24th. Seventeen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.26.

NIKE Company 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.