Ceredex Value Advisors LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 453,107 shares of the footwear maker's stock after selling 19,922 shares during the quarter. Ceredex Value Advisors LLC's holdings in NIKE were worth $28,763,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in NKE. Brighton Jones LLC grew its stake in NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after buying an additional 160,980 shares during the last quarter. Bank Pictet & Cie Europe AG grew its stake in NIKE by 10.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock worth $14,447,000 after buying an additional 17,888 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in NIKE by 79.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 173,792 shares of the footwear maker's stock worth $13,151,000 after buying an additional 77,044 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in NIKE by 46.1% during the 4th quarter. Integrated Wealth Concepts LLC now owns 25,346 shares of the footwear maker's stock worth $1,918,000 after buying an additional 7,998 shares during the last quarter. Finally, Northern Trust Corp grew its stake in 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. Hedge funds and other institutional investors own 64.25% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on NKE shares. Telsey Advisory Group reiterated a "market perform" rating and issued a $70.00 target price on shares of NIKE in a research note on Friday, June 27th. Morgan Stanley lifted their target price on NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. DZ Bank downgraded NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price on the stock. in a research note on Thursday, July 10th. HSBC upgraded NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a research note on Friday, June 27th. Finally, Citigroup lifted their target price on NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, NIKE currently has an average rating of "Moderate Buy" and a consensus price target of $78.22.
Check Out Our Latest Analysis on NKE
NIKE Stock Performance
Shares of NKE stock opened at $79.14 on Tuesday. The company has a market cap of $116.88 billion, a price-to-earnings ratio of 36.64, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The stock has a 50 day simple moving average of $72.85 and a 200-day simple moving average of $67.69. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. 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 (NYSE:NKE - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The company's revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 EPS. On average, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.
NIKE Announces Dividend
The company also recently declared 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. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.0%. NIKE's dividend payout ratio is currently 74.07%.
Insider Buying and Selling at NIKE
In related news, Chairman Mark G. Parker sold 86,078 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman owned 744,988 shares in the company, 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 at this hyperlink. 0.80% of the stock is currently owned by corporate insiders.
About NIKE
(
Free Report)
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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