Ninety One UK Ltd Sells 40,850 Shares of NIKE, Inc. (NYSE:NKE)

Ninety One UK Ltd reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 512,412 shares of the footwear maker’s stock after selling 40,850 shares during the quarter. Ninety One UK Ltd’s holdings in NIKE were worth $38,774,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Teachers Insurance & Annuity Association of America bought a new position in shares of NIKE during the 3rd quarter valued at approximately $30,000. Heck Capital Advisors LLC bought a new position in NIKE during the fourth quarter valued at $28,000. VitalStone Financial LLC increased its position in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares during the last quarter. Dunhill Financial LLC lifted its holdings in shares of NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after acquiring an additional 169 shares during the last quarter. Finally, Riverview Trust Co bought a new stake in shares of NIKE in the 3rd quarter worth about $52,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Up 0.3 %

Shares of NIKE stock opened at $76.79 on Wednesday. The stock has a market cap of $113.57 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The firm has a fifty day moving average price of $75.54 and a 200 day moving average price of $78.09. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter last year, the business posted $1.03 EPS. The company’s revenue was down 7.7% on a year-over-year basis. Equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.08%. The ex-dividend date was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is currently 49.38%.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on NKE shares. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Robert W. Baird reduced their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Wells Fargo & Company dropped their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. TD Cowen reduced their target price on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Finally, UBS Group reissued a “neutral” rating and set a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.77.

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.