Alberta Investment Management Corp Sells 101,900 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• Alberta Investment Management Corp sold 101,900 shares of NIKE, reducing its holdings by 35.7% to a total of 183,727 shares worth approximately $11.66 million.
• Chairman Mark G. Parker sold 110,000 shares for about $7.95 million, marking an 11.55% decrease in his ownership stake in NIKE.
• Analysts have mixed ratings on NIKE, with the average target price set at $78.22, while institutional investors hold 64.25% of the company's shares.

Alberta Investment Management Corp decreased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 35.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 183,727 shares of the footwear maker's stock after selling 101,900 shares during the quarter. Alberta Investment Management Corp's holdings in NIKE were worth $11,663,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Jennison Associates LLC bought a new stake in NIKE in the 1st quarter valued at $509,051,000. Renaissance Technologies LLC lifted its holdings in shares of NIKE by 1,302.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock worth $196,901,000 after buying an additional 2,416,601 shares in the last quarter. Capital World Investors increased its position in NIKE by 10.3% during the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after acquiring an additional 2,288,627 shares during the period. Flossbach Von Storch SE raised its position in shares of NIKE by 24.0% in the first quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock valued at $652,995,000 after buying an additional 1,988,547 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in NIKE by 183.9% during the 4th quarter. Toronto Dominion Bank now owns 2,996,972 shares of the footwear maker's stock worth $226,779,000 after acquiring an additional 1,941,375 shares during the period. Institutional investors own 64.25% of the company's stock.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.80% of the company's stock.

NIKE Price Performance

Shares of NYSE:NKE opened at $74.61 on Friday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The stock's 50 day moving average is $68.36 and its 200-day moving average is $67.53. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $110.19 billion, a price-to-earnings ratio of 34.54, a PEG ratio of 2.71 and a beta of 1.27.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business's revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.99 earnings per share. Sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on NKE shares. Deutsche Bank Aktiengesellschaft cut their target price on NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research report on Friday, June 20th. Citigroup lifted their target price on NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, June 27th. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. UBS Group began coverage on shares of NIKE in a research note on Sunday, July 6th. They set a "buy" rating on the stock. Finally, Morgan Stanley boosted their price objective on NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $78.22.

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.

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