BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 1,429,877 Shares of NIKE, Inc. $NKE

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its stake in NIKE, Inc. by 56.3% in the first quarter, selling 1,429,877 shares and retaining approximately 1,110,477 shares valued at $70.5 million.
• Insider trading was noted as Chairman Mark G. Parker sold 110,000 shares for about $7.95 million, resulting in an 11.55% decrease in his ownership stake.
• Several recent analyst ratings increased NIKE’s target price, with a consensus target price now at $78.22, while the stock currently holds a "Moderate Buy" rating.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 56.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,110,477 shares of the footwear maker's stock after selling 1,429,877 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.08% of NIKE worth $70,492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of NKE. Spire Wealth Management boosted its position in shares of NIKE by 4.4% during the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after buying an additional 416 shares during the last quarter. Capitolis Liquid Global Markets LLC boosted its position in NIKE by 40.9% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock worth $23,458,000 after purchasing an additional 90,000 shares during the last quarter. Janus Henderson Group PLC grew its position in NIKE by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock valued at $460,160,000 after buying an additional 463,470 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock valued at $69,932,000 after acquiring an additional 5,601 shares during the period. Finally, OMERS ADMINISTRATION Corp increased its position in NIKE by 20.2% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 52,370 shares of the footwear maker's stock worth $3,963,000 after buying an additional 8,792 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research note on Friday, June 20th. Bank of America lifted their price target on NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Argus raised NIKE to a "buy" rating in a research note on Sunday, July 6th. 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, Wall Street Zen lowered NIKE from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.22.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.80% of the company's stock.

NIKE Trading Up 1.0%

NYSE NKE opened at $77.17 on Monday. The stock has a market cap of $113.97 billion, a P/E ratio of 35.73, a P/E/G ratio of 2.80 and a beta of 1.27. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The stock's fifty day moving average price is $71.05 and its 200-day moving average price is $67.56.

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

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is presently 74.07%.

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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