NIKE, Inc. $NKE Shares Sold by Baader Bank Aktiengesellschaft

Key Points

• Baader Bank Aktiengesellschaft significantly reduced its stake in NIKE, Inc. by 90.9%, selling 390,027 shares and leaving it with 38,998 shares valued at approximately $2.6 million.
• NIKE reported a net margin of 6.95% and a decline in quarterly revenue of 11.9% year-over-year, despite beating analysts' earnings expectations with an EPS of $0.14.
• The company declared a $0.40 quarterly dividend, resulting in an annualized dividend yield of 2.2%, with a dividend payout ratio of 74.07%.

Baader Bank Aktiengesellschaft reduced its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 90.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,998 shares of the footwear maker's stock after selling 390,027 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in NIKE were worth $2,617,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NKE. Westmount Partners LLC lifted its position in shares of NIKE by 2.9% in the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker's stock valued at $367,000 after acquiring an additional 146 shares in the last quarter. RB Capital Management LLC lifted its position in shares of NIKE by 0.4% in the second quarter. RB Capital Management LLC now owns 46,327 shares of the footwear maker's stock valued at $3,291,000 after acquiring an additional 171 shares in the last quarter. Breakwater Capital Group lifted its position in shares of NIKE by 4.8% in the second quarter. Breakwater Capital Group now owns 3,873 shares of the footwear maker's stock valued at $275,000 after acquiring an additional 177 shares in the last quarter. Bruce G. Allen Investments LLC lifted its position in shares of NIKE by 20.2% in the second quarter. Bruce G. Allen Investments LLC now owns 1,055 shares of the footwear maker's stock valued at $75,000 after acquiring an additional 177 shares in the last quarter. Finally, Peregrine Asset Advisers Inc. lifted its position in shares of NIKE by 1.2% in the first quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker's stock worth $934,000 after buying an additional 181 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.80% of the company's stock.

NIKE Stock Down 1.7%

NYSE NKE traded down $1.22 during midday trading on Friday, hitting $70.88. 33,397,876 shares of the company traded hands, compared to its average volume of 10,678,684. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The company has a market cap of $104.68 billion, a PE ratio of 32.81, a price-to-earnings-growth ratio of 2.57 and a beta of 1.24. The company's 50-day simple moving average is $75.19 and its 200-day simple moving average is $67.50. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. During the same quarter last year, the firm earned $0.99 EPS. The business's revenue for the quarter was down 11.9% on a year-over-year basis. As a group, equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio is currently 74.07%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NKE shares. Argus upgraded NIKE to a "buy" rating in a research report on Sunday, July 6th. Royal Bank Of Canada upgraded NIKE from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $76.00 to $90.00 in a research report on Thursday. Barclays boosted their target price on NIKE from $64.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Thursday. Wall Street Zen upgraded NIKE from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Finally, Cowen raised NIKE from a "hold" rating to a "buy" rating in a research note on Wednesday, September 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and an average price target of $79.04.

NIKE 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.