NIKE, Inc. $NKE Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 12.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,129 shares of the footwear maker’s stock after selling 1,403 shares during the quarter. International Assets Investment Management LLC’s holdings in NIKE were worth $720,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in NKE. Goldman Sachs Group Inc. boosted its position in shares of NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after buying an additional 20,688,013 shares in the last quarter. Wellington Management Group LLP increased its position in NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after purchasing an additional 9,043,180 shares in the last quarter. Jennison Associates LLC purchased a new position in NIKE in the first quarter valued at approximately $509,051,000. Nuveen LLC purchased a new position in NIKE in the first quarter valued at approximately $502,285,000. Finally, Vanguard Group Inc. grew its position in NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock valued at $7,182,831,000 after acquiring an additional 4,957,494 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Bank of America increased their target price on NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, June 27th. TD Cowen raised shares of NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $62.00 to $85.00 in a report on Wednesday, September 10th. KeyCorp set a $90.00 price objective on shares of NIKE and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.21.

NIKE Price Performance

NYSE:NKE opened at $67.71 on Tuesday. The business’s 50-day moving average price is $72.97 and its 200 day moving average price is $67.56. The firm has a market cap of $100.09 billion, a P/E ratio of 34.72, a PEG ratio of 2.48 and a beta of 1.29. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $83.09. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter last year, the company posted $0.70 EPS. NIKE’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.4%. NIKE’s dividend payout ratio (DPR) is presently 82.05%.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the sale, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

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.