Sei Investments Co. Has $26.14 Million Position in NIKE, Inc. $NKE

Sei Investments Co. raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 4.0% in the first quarter, HoldingsChannel.com reports. The firm owned 494,891 shares of the footwear maker’s stock after buying an additional 19,159 shares during the period. Sei Investments Co.’s holdings in NIKE were worth $26,140,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Scarborough Advisors LLC bought a new stake in shares of NIKE during the first quarter worth about $25,000. Cornerstone Financial Management LLC acquired a new position in NIKE during the 4th quarter valued at about $26,000. Sankala Group LLC acquired a new position in NIKE during the 4th quarter valued at about $26,000. J.Safra Asset Management Corp bought a new stake in NIKE during the 4th quarter worth approximately $29,000. Finally, Meeder Asset Management Inc. increased its holdings in NIKE by 108.4% during the 1st quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock worth $29,000 after purchasing an additional 285 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. BTIG Research reaffirmed a “buy” rating and set a $55.00 target price on shares of NIKE in a research report on Wednesday, July 1st. Bank of America dropped their price objective on NIKE from $55.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. Barclays cut their price objective on shares of NIKE from $67.00 to $52.00 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. The Goldman Sachs Group reduced their target price on shares of NIKE from $46.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, July 1st. Finally, Weiss Ratings upgraded shares of NIKE from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $53.86.

NIKE Trading Up 2.1%

NYSE:NKE opened at $43.01 on Wednesday. The company has a market cap of $63.81 billion, a P/E ratio of 20.58, a P/E/G ratio of 1.87 and a beta of 1.12. The stock’s fifty day moving average price is $43.68 and its two-hundred day moving average price is $50.75. NIKE, Inc. has a 1 year low of $40.00 and a 1 year high of $80.17. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the company earned $0.14 earnings per share. As a group, analysts expect that NIKE, Inc. will post 1.74 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.8%. NIKE’s dividend payout ratio is 78.47%.

Insider Buying and Selling

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the transaction, the executive vice president owned 53,133 shares in the company, valued at $2,453,681.94. This trade represents a 24.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.10% of the stock is currently owned by corporate insiders.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).