Bowie Capital Management LLC Has $11.50 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Key Points

• Bowie Capital Management LLC reduced its position in NIKE, Inc. by 51.9%, now holding 181,090 shares valued at approximately $11.50 million.
• NIKE reported a quarterly EPS of $0.14, exceeding analysts' expectations and generating revenues of $11.10 billion, despite a 11.9% decline year-over-year.
• The company announced a quarterly dividend of $0.40 per share, representing an annualized yield of 2.1%, with a payout ratio of 74.07%.

Bowie Capital Management LLC reduced its position in NIKE, Inc. (NYSE:NKE - Free Report) by 51.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 181,090 shares of the footwear maker's stock after selling 195,167 shares during the period. NIKE comprises 0.5% of Bowie Capital Management LLC's holdings, making the stock its 23rd largest position. Bowie Capital Management LLC's holdings in NIKE were worth $11,496,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NKE. Goldman Sachs Group Inc. grew its stake in shares of NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after buying an additional 20,688,013 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of NIKE during the first quarter worth $509,051,000. Nuveen LLC acquired a new position in NIKE in the first quarter valued at $502,285,000. Vanguard Group Inc. lifted its holdings in NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock valued at $7,182,831,000 after buying an additional 4,957,494 shares during the period. Finally, Capital World Investors lifted its holdings in NIKE by 10.3% in the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after buying an additional 2,288,627 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

NKE opened at $77.17 on Friday. The business's 50-day simple moving average is $71.05 and its 200 day simple moving average is $67.69. The firm has a market capitalization of $113.97 billion, a PE ratio of 35.73, a PEG ratio of 2.78 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. 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 posted 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. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same period last year, the company posted $0.99 EPS. The business's quarterly revenue was down 11.9% on a year-over-year basis. As a group, sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is 74.07%.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of recent analyst reports. Evercore ISI reduced their price objective on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. Royal Bank Of Canada dropped their price objective on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a report on Tuesday, May 20th. Morgan Stanley lifted their target price on shares of NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. Wall Street Zen downgraded shares of NIKE from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Finally, UBS Group initiated coverage on NIKE in a report on Sunday, July 6th. They set a "buy" rating on the stock. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.22.

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were 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 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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.80% of the company's stock.

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.

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