NIKE, Inc. (NYSE:NKE) Shares Sold by Adero Partners LLC

Adero Partners LLC cut its holdings in NIKE, Inc. (NYSE:NKE) by 14.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,988 shares of the footwear maker’s stock after selling 1,164 shares during the period. Adero Partners LLC’s holdings in NIKE were worth $444,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NKE. Norges Bank acquired a new position in NIKE in the fourth quarter valued at approximately $1,126,288,000. Wellington Management Group LLP lifted its stake in NIKE by 32.4% during 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 in the last quarter. Bank of New York Mellon Corp lifted its stake in NIKE by 18.1% during 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 in the last quarter. Renaissance Technologies LLC lifted its stake in NIKE by 1,302.7% during 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 in the last quarter. Finally, Capital World Investors lifted its stake in NIKE by 10.3% during the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock worth $1,857,389,000 after purchasing an additional 2,288,627 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NYSE:NKE opened at $60.44 on Monday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a market cap of $89.40 billion, a P/E ratio of 18.65, a PEG ratio of 2.52 and a beta of 1.21. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The company has a 50-day moving average price of $59.38 and a 200 day moving average price of $68.60.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating 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 firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The firm’s revenue was down 9.1% compared to the same quarter last year. Research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.65%. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the purchase, 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 position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on NKE. Telsey Advisory Group decreased their price target on NIKE from $80.00 to $70.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 6th. Cfra Research upgraded NIKE to a “moderate buy” rating in a research note on Friday, March 21st. BMO Capital Markets cut their price objective on NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company upped their price objective on NIKE from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 14th. Finally, Williams Trading cut their price objective on NIKE from $93.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, April 21st. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $80.26.

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.