NIKE, Inc. (NYSE:NKE) Stake Decreased by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. reduced its holdings in NIKE, Inc. by 28.5% in the first quarter, owning approximately $8.19 million worth of the stock after selling 51,381 shares.
• NIKE has recently seen mixed analyst ratings, with price targets ranging from $71.00 to $84.00, and a consensus rating of "Moderate Buy".
• The company reported a revenue of $11.10 billion for its latest quarter, exceeding projections, but still showed a 11.9% decline compared to the same quarter last year.

Baillie Gifford & Co. reduced its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 28.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,970 shares of the footwear maker's stock after selling 51,381 shares during the period. Baillie Gifford & Co.'s holdings in NIKE were worth $8,187,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Wellington Management Group LLP raised its holdings in NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after acquiring an additional 8,898,591 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of NIKE by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock worth $1,915,110,000 after buying an additional 347,178 shares during the last quarter. Capital World Investors increased its holdings in shares of NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after buying an additional 2,288,627 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of NIKE by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock worth $1,332,331,000 after buying an additional 620,214 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of NIKE by 8.8% during the 4th quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock worth $1,111,625,000 after buying an additional 1,183,641 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Up 3.9%

NYSE:NKE traded up $3.00 during mid-day trading on Monday, reaching $79.27. The stock had a trading volume of 22,612,590 shares, compared to its average volume of 17,592,443. The company has a market capitalization of $117.07 billion, a price-to-earnings ratio of 36.70, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The stock's 50 day simple moving average is $66.81 and its two-hundred day simple moving average is $67.29. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

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

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were issued a $0.40 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.02%. NIKE's dividend payout ratio is currently 74.07%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares of the company's stock, valued at $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of research analyst reports. DZ Bank downgraded NIKE from a "buy" rating to a "hold" rating and set a $76.00 price objective for the company. in a report on Thursday, July 10th. Wall Street Zen downgraded NIKE from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Wells Fargo & Company upped their price target on shares of NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Argus raised shares of NIKE to a "buy" rating in a research report on Sunday, July 6th. Finally, Barclays upped their price target on shares of NIKE from $53.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. One investment 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.22.

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.