NIKE, Inc. (NYSE:NKE) Stock Holdings Lessened by Intech Investment Management LLC

Intech Investment Management LLC cut its holdings in NIKE, Inc. (NYSE:NKE) by 0.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 49,898 shares of the footwear maker’s stock after selling 411 shares during the period. Intech Investment Management LLC’s holdings in NIKE were worth $3,761,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of NKE. Marathon Trading Investment Management LLC grew its holdings in shares of NIKE by 20.6% during the second quarter. Marathon Trading Investment Management LLC now owns 4,100 shares of the footwear maker’s stock valued at $309,000 after purchasing an additional 700 shares during the last quarter. Seven Eight Capital LP grew its stake in NIKE by 999.3% during the 2nd quarter. Seven Eight Capital LP now owns 71,542 shares of the footwear maker’s stock worth $5,392,000 after buying an additional 65,034 shares during the last quarter. CCLA Investment Management increased its position in NIKE by 1.1% in the second quarter. CCLA Investment Management now owns 950,071 shares of the footwear maker’s stock worth $71,607,000 after buying an additional 10,332 shares during the period. Elo Mutual Pension Insurance Co lifted its stake in NIKE by 12.3% in the second quarter. Elo Mutual Pension Insurance Co now owns 105,855 shares of the footwear maker’s stock valued at $7,978,000 after buying an additional 11,563 shares during the last quarter. Finally, Blair William & Co. IL boosted its holdings in shares of NIKE by 0.3% during the second quarter. Blair William & Co. IL now owns 381,012 shares of the footwear maker’s stock valued at $28,717,000 after acquiring an additional 1,206 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the purchase, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated 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 transaction, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. 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 analysts recently weighed in on the stock. TD Cowen dropped their price objective on shares of NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Bank of America cut their price target on NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Sanford C. Bernstein decreased their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday. Evercore ISI lifted their target price on NIKE from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Jefferies Financial Group reduced their price target on NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.15.

NIKE Stock Performance

Shares of NYSE NKE opened at $86.52 on Friday. The stock’s fifty day simple moving average is $78.11 and its 200 day simple moving average is $87.06. The stock has a market capitalization of $130.59 billion, a price-to-earnings 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 52-week low of $70.75 and a 52-week high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter last year, the business posted $0.66 EPS. NIKE’s revenue was down 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that NIKE, Inc. will post 3.06 earnings per share for the current fiscal year.

NIKE Announces Dividend

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

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.