NIKE, Inc. (NYSE:NKE) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 4.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 152,884 shares of the footwear maker’s stock after selling 6,808 shares during the quarter. Mutual of America Capital Management LLC’s holdings in NIKE were worth $11,523,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 worth $1,860,395,000 after acquiring an additional 7,996,434 shares in the last quarter. Capital International Investors grew its holdings 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 valued at $2,997,628,000 after purchasing an additional 7,143,775 shares during the last quarter. Longview Partners Guernsey LTD bought a new position in shares of NIKE during the first quarter valued at approximately $533,533,000. Capital World Investors grew its holdings in shares of NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after purchasing an additional 4,457,376 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of NIKE by 45.6% during the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after purchasing an additional 2,775,510 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the subject of several recent research reports. Robert W. Baird lowered their target price on NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Barclays upped their target price on NIKE from $80.00 to $84.00 and gave the company an “equal weight” rating in a report on Wednesday. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Evercore ISI reduced their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.74.

NIKE Price Performance

NKE opened at $80.94 on Thursday. The company has a fifty day moving average price of $77.69 and a two-hundred day moving average price of $87.28. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The firm has a market capitalization of $122.17 billion, a PE ratio of 21.70, a P/E/G ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the previous year, the business earned $0.66 EPS. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, analysts anticipate that NIKE, Inc. will post 3.06 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s payout ratio is presently 39.68%.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated 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 sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. Company 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.