First Long Island Investors LLC Sells 76,864 Shares of NIKE, Inc. (NYSE:NKE)

First Long Island Investors LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 61.2% during the first quarter, Holdings Channel reports. The fund owned 48,741 shares of the footwear maker’s stock after selling 76,864 shares during the period. First Long Island Investors LLC’s holdings in NIKE were worth $4,581,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Capital International Investors grew its position in NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after acquiring an additional 7,143,775 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after acquiring an additional 7,996,434 shares during the last quarter. Norges Bank bought a new stake in NIKE during the 4th quarter worth approximately $1,315,097,000. Fisher Asset Management LLC grew its position in NIKE by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock worth $1,073,515,000 after acquiring an additional 219,091 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after buying an additional 2,775,510 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares in the company, valued at approximately $4,236,917.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 213,660 shares of company stock worth $19,946,333. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

NKE has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $115.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Sanford C. Bernstein reduced their price objective on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. StockNews.com downgraded NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Citigroup reduced their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, Wedbush reduced their price objective on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, NIKE has a consensus rating of “Hold” and a consensus price target of $97.19.

NIKE Stock Up 1.2 %

NKE stock traded up $0.84 during trading hours on Thursday, reaching $73.38. 15,843,352 shares of the stock were exchanged, compared to its average volume of 11,168,768. The firm’s 50-day moving average is $89.89 and its 200-day moving average is $96.31. The company has a market cap of $110.76 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.87 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE, Inc. has a 12 month low of $71.67 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. On average, equities research analysts expect that NIKE, Inc. will post 3.17 earnings per share for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

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.