DJE Kapital AG Sells 91,969 Shares of NIKE, Inc. $NKE

Key Points

• DJE Kapital AG cut its NIKE stake by 13.4% in the fourth quarter, selling 91,969 shares and leaving it with 594,196 shares valued at about $36.5 million.
• NIKE recently reported quarterly EPS of $0.35, topping estimates, and revenue of $11.28 billion, slightly ahead of expectations. The company also announced a quarterly dividend of $0.41 per share, implying a 3.6% yield.
• Analyst sentiment remains cautious: several firms lowered price targets, and the consensus rating is Hold with a consensus price target of $60.89, even as some insiders have bought shares recently.

DJE Kapital AG reduced its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 13.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 594,196 shares of the footwear maker's stock after selling 91,969 shares during the quarter. NIKE comprises 1.0% of DJE Kapital AG's investment portfolio, making the stock its 28th largest position. DJE Kapital AG's holdings in NIKE were worth $36,497,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in NKE. Brighton Jones LLC grew its position in shares of NIKE by 388.5% in 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. Caxton Associates LLP bought a new stake in shares of NIKE in the 1st quarter worth approximately $311,000. United Bank lifted its stake in shares of NIKE by 11.3% in the 2nd quarter. United Bank now owns 17,067 shares of the footwear maker's stock valued at $1,212,000 after purchasing an additional 1,736 shares during the period. NewEdge Advisors LLC lifted its stake in shares of NIKE by 0.3% in the 2nd quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker's stock valued at $4,558,000 after purchasing an additional 197 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in shares of NIKE by 6.5% in the 2nd quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker's stock valued at $13,588,000 after purchasing an additional 11,646 shares during the period. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Up 4.4%

Shares of NYSE:NKE opened at $45.91 on Friday. The stock has a fifty day simple moving average of $44.26 and a two-hundred day simple moving average of $55.52. The stock has a market capitalization of $67.99 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 1.90 and a beta of 1.12. NIKE, Inc. has a 12-month low of $41.35 and a 12-month high of $80.17. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. The business had revenue of $11.28 billion during the quarter, compared to analysts' expectations of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The firm's quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 earnings per share. On average, research analysts anticipate that NIKE, Inc. will post 1.49 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $0.41 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.6%. NIKE's payout ratio is currently 108.61%.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. purchased 4,000 shares of the firm's stock in a transaction dated Thursday, April 9th. The stock was purchased at an average price of $43.34 per share, for a total transaction of $173,360.00. Following the completion of the purchase, the director directly owned 41,022 shares of the company's stock, valued at $1,777,893.48. This trade represents a 10.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy D. Cook purchased 25,000 shares of the firm's stock in a transaction dated Friday, April 10th. The stock was acquired at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the purchase, the director directly owned 130,480 shares of the company's stock, valued at approximately $5,536,266.40. The trade was a 23.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 64,441 shares of company stock worth $2,734,204 over the last three months. Company insiders own 0.80% of the company's stock.

Analyst Ratings Changes

NKE has been the subject of a number of research analyst reports. Telsey Advisory Group lowered their target price on NIKE from $65.00 to $55.00 and set a "market perform" rating for the company in a research note on Wednesday, April 1st. Deutsche Bank Aktiengesellschaft lowered their target price on NIKE from $54.00 to $51.00 and set a "hold" rating for the company in a research note on Wednesday, April 1st. Citigroup lowered their target price on NIKE from $53.00 to $47.00 and set a "neutral" rating for the company in a research note on Wednesday. Zacks Research cut NIKE from a "hold" rating to a "strong sell" rating in a research note on Monday, June 1st. Finally, UBS Group set a $50.00 target price on NIKE and gave the company a "neutral" rating in a research note on Wednesday. Fifteen research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $60.89.

NIKE News Roundup

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE should get an attention boost from the World Cup, which gives the company a high-profile stage to promote its brand and compete more directly with Adidas. Nike's World Cup play: take on Adidas and revitalize the brand
• Neutral Sentiment: Recent valuation commentary suggests the stock has had mixed performance, with short-term gains offset by weakness over the longer term, keeping investor sentiment cautious. A Look At Nike (NKE) Valuation As Recent Share Performance Remains Mixed
• Negative Sentiment: RBC Capital downgraded NIKE to Sector Perform/Hold and cut its price target, saying the company’s turnaround is taking longer than expected and near-term catalysts look limited. Nike Could Get a World Cup Boost. But Stay Behind the Touchline, Analysts Say.
• Negative Sentiment: Citigroup also lowered its price target on NIKE and kept a neutral view, adding to concerns about margins, brand reset progress, and the credibility of management’s financial targets. Citigroup adjusts Nike's PT to 47 from 53, maintains Neutral rating
• Negative Sentiment: Commentary from analysts and media outlets echoed the same theme: NIKE’s operational turnaround and brand reset are progressing more slowly than hoped, keeping pressure on the shares. Analyst Downgrade Puts Nike Turnaround Pace And Profit Goals In Focus

NIKE Profile

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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