Banque Pictet & Cie SA Sells 34,251 Shares of NIKE, Inc. $NKE

Key Points

• Banque Pictet & Cie SA sold 34,251 shares of NIKE, Inc., reducing its holding by 1% to 3,280,130 shares, which constitute approximately 1.6% of its investment portfolio.
• NIKE recently reported earnings of $0.14 EPS, exceeding analyst expectations, although its revenue declined 11.9% year-over-year to $11.10 billion.
• The company announced a quarterly dividend of $0.40 per share, representing a 2.3% dividend yield, with the payment scheduled for October 1st.

Banque Pictet & Cie SA lowered its position in NIKE, Inc. (NYSE:NKE - Free Report) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,280,130 shares of the footwear maker's stock after selling 34,251 shares during the period. NIKE makes up approximately 1.6% of Banque Pictet & Cie SA's investment portfolio, making the stock its 12th biggest holding. Banque Pictet & Cie SA owned approximately 0.22% of NIKE worth $233,020,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NKE. Stone House Investment Management LLC bought a new stake in NIKE in the first quarter worth about $25,000. Saudi Central Bank bought a new stake in NIKE in the first quarter worth about $30,000. Matrix Trust Co raised its stake in shares of NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock valued at $31,000 after acquiring an additional 153 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of NIKE during the second quarter valued at approximately $35,000. Finally, Roxbury Financial LLC raised its stake in shares of NIKE by 52.1% during the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after acquiring an additional 201 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

NIKE Price Performance

NYSE:NKE opened at $69.32 on Friday. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The firm has a market cap of $102.38 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 2.59 and a beta of 1.24. The firm's fifty day moving average is $75.05 and its two-hundred day moving average is $67.38.

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

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid 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 of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio is presently 74.07%.

Insider Activity

In other news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares of the company's stock, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NKE shares. Needham & Company LLC lifted their price target on shares of NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. raised shares of NIKE from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $64.00 to $93.00 in a research note on Monday, July 28th. Royal Bank Of Canada raised shares of NIKE from a "sector perform" rating to an "outperform" rating and lifted their price target for the company from $76.00 to $90.00 in a research note on Thursday, September 18th. UBS Group set a $71.00 price target on shares of NIKE and gave the company a "neutral" rating in a research note on Friday, September 19th. Finally, The Goldman Sachs Group boosted their price objective on shares of NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Three investment 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 company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $79.46.

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.

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