NIKE, Inc. (NYSE:NKE) Stake Lessened by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 32.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 654,026 shares of the footwear maker’s stock after selling 315,266 shares during the quarter. Canada Pension Plan Investment Board’s holdings in NIKE were worth $49,294,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of NKE. Cim LLC acquired a new position in shares of NIKE in the 4th quarter valued at about $14,275,000. TKG Advisors LLC acquired a new position in NIKE in the 4th quarter valued at approximately $1,012,000. Spartan Planning & Wealth Management purchased a new stake in NIKE in the 4th quarter worth approximately $182,000. Edmond DE Rothschild Holding S.A. boosted its stake in shares of NIKE by 27.9% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 113,299 shares of the footwear maker’s stock valued at $12,301,000 after buying an additional 24,686 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in shares of NIKE by 86.0% during the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after acquiring an additional 9,689 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Performance

NYSE NKE opened at $86.52 on Friday. The stock has a market cap of $130.59 billion, a P/E ratio of 23.20, a PEG ratio of 2.08 and a beta of 1.02. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company’s 50-day simple moving average is $78.11 and its 200 day simple moving average is $87.06.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’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 EPS. As a group, research analysts forecast that NIKE, Inc. will post 3.06 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.71%. NIKE’s dividend payout ratio is presently 39.68%.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NKE. Wedbush reduced their price objective on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Guggenheim dropped their price target on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Jefferies Financial Group lowered their target price on shares of NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $83.00 price target (down previously from $116.00) on shares of NIKE in a research report on Friday, June 28th. Finally, StockNews.com lowered NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.15.

About NIKE

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.