Columbia Asset Management Sells 1,263 Shares of NIKE, Inc. (NYSE:NKE)

Columbia Asset Management decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,719 shares of the footwear maker’s stock after selling 1,263 shares during the quarter. NIKE comprises approximately 1.1% of Columbia Asset Management’s investment portfolio, making the stock its 21st biggest holding. Columbia Asset Management’s holdings in NIKE were worth $6,159,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NKE. Vanguard Group Inc. grew its holdings in NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after acquiring an additional 501,792 shares during the period. Capital International Investors grew its stake in shares of NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares during the last quarter. Norges Bank acquired a new position in NIKE in the fourth quarter valued at about $1,315,097,000. Finally, Fisher Asset Management LLC boosted its holdings in NIKE by 2.2% during the fourth quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock worth $1,072,676,000 after buying an additional 211,360 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on NKE. Bank of America lowered their price target on NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research note on Friday, June 28th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $83.00 target price (down from $116.00) on shares of NIKE in a report on Friday, June 28th. Jefferies Financial Group reduced their price target on shares of NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. Robert W. Baird dropped their price objective on NIKE from $125.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Finally, UBS Group reissued a “neutral” rating and issued a $78.00 target price on shares of NIKE in a research note on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.59.

NIKE Trading Down 0.2 %

NYSE NKE opened at $80.83 on Friday. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The stock has a 50 day moving average of $76.83 and a 200-day moving average of $88.94. The company has a market cap of $122.00 billion, a PE ratio of 21.67, a PEG ratio of 2.19 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share. On average, equities research analysts anticipate that NIKE, Inc. will post 3.1 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction that occurred on 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 purchase, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Corporate insiders own 0.50% of the company’s stock.

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.