NIKE, Inc. (NYSE:NKE) Shares Sold by Assetmark Inc.

Assetmark Inc. reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 7.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,631 shares of the footwear maker’s stock after selling 7,525 shares during the quarter. Assetmark Inc.’s holdings in NIKE were worth $6,198,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after purchasing an additional 8,898,591 shares during the period. Geode Capital Management LLC raised its stake in NIKE by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock valued at $1,915,110,000 after purchasing an additional 347,178 shares during the period. Capital World Investors raised its stake in NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock valued at $1,857,389,000 after purchasing an additional 2,288,627 shares during the period. Bank of New York Mellon Corp raised its stake in NIKE by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker’s stock valued at $1,332,331,000 after purchasing an additional 620,214 shares during the period. Finally, Northern Trust Corp raised its stake in NIKE by 8.8% during the 4th quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker’s stock valued at $1,111,625,000 after purchasing an additional 1,183,641 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Up 3.9%

NKE stock opened at $79.27 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The company has a 50-day moving average of $67.15 and a two-hundred day moving average of $67.35. The stock has a market capitalization of $117.07 billion, a price-to-earnings ratio of 36.70, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same period in the prior year, the company earned $0.99 earnings per share. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Monday, June 2nd. NIKE’s dividend payout ratio (DPR) is 74.07%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley boosted their target price on shares of NIKE from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, June 27th. Stifel Nicolaus dropped their price target on shares of NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. HSBC raised shares of NIKE from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Friday, June 27th. JPMorgan Chase & Co. raised shares of NIKE from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $64.00 to $93.00 in a research note on Monday. Finally, Argus raised shares of NIKE to a “buy” rating in a research note on Sunday, July 6th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $78.22.

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.