Canada Pension Plan Investment Board Trims Stock Position in NIKE, Inc. $NKE

Key Points

• The Canada Pension Plan Investment Board reduced its stake in NIKE, Inc. by 11.3% in the first quarter, holding approximately 1.2 million shares valued at $76 million after the sale.
• NIKE's stock is currently trading at $77.34, with a market capitalization of $114.22 billion and a P/E ratio of 35.81, following quarterly earnings that beat analyst estimates.
• The company announced a quarterly dividend of $0.40 per share, resulting in an annualized dividend yield of 2.1% and a payout ratio of 74.07%.

Canada Pension Plan Investment Board lessened its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 11.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,198,671 shares of the footwear maker's stock after selling 152,218 shares during the quarter. Canada Pension Plan Investment Board owned about 0.08% of NIKE worth $76,092,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Stone House Investment Management LLC purchased a new stake in shares of NIKE during the 1st quarter valued at approximately $25,000. Heck Capital Advisors LLC purchased a new stake in NIKE in the fourth quarter valued at approximately $28,000. Roxbury Financial LLC raised its position in NIKE by 52.1% in the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after purchasing an additional 201 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in NIKE in the first quarter valued at approximately $37,000. Finally, Putney Financial Group LLC purchased a new stake in NIKE in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Stock Down 0.7%

NIKE stock opened at $77.34 on Friday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The stock's fifty day simple moving average is $74.32 and its 200-day simple moving average is $67.93. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $114.22 billion, a P/E ratio of 35.81, a P/E/G ratio of 2.83 and a beta of 1.27.

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 analysts' consensus estimates 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 analyst estimates of $10.69 billion. During the same quarter in the prior year, the company earned $0.99 earnings per share. The company's revenue was down 11.9% on a year-over-year basis. As a group, equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

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 given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. NIKE's dividend payout ratio is currently 74.07%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NKE shares. Deutsche Bank Aktiengesellschaft cut their target price on NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a research report on Friday, June 20th. Citigroup boosted their target price on NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, June 27th. Barclays boosted their target price on NIKE from $53.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday, June 27th. Wells Fargo & Company boosted their target price on NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Finally, DZ Bank lowered NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price on the stock. in a research report on Thursday, July 10th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and thirteen have given a Hold rating to the company's stock. According to data from MarketBeat, NIKE presently has a consensus rating of "Moderate Buy" and an average target price of $78.22.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the company's 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 sale, the chairman owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.80% of the company's stock.

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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