Edmond DE Rothschild Holding S.A. Lowers Stake in NIKE, Inc. $NKE

Key Points

• Edmond DE Rothschild Holding S.A. has reduced its stake in NIKE, Inc. by 37.2%, now owning 45,394 shares valued at approximately $2.88 million.
• NIKE recently reported a net margin of 6.95%, with quarterly revenue decreasing by 11.9% year-over-year.
• The company declared a quarterly dividend of $0.40, representing an annualized yield of 2.1% and a payout ratio of 74.07%.

Edmond DE Rothschild Holding S.A. lowered its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 37.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,394 shares of the footwear maker's stock after selling 26,920 shares during the period. Edmond DE Rothschild Holding S.A.'s holdings in NIKE were worth $2,882,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of NKE. Stone House Investment Management LLC purchased a new stake in NIKE during the first quarter worth $25,000. Heck Capital Advisors LLC acquired a new position in shares of NIKE during the fourth quarter worth $28,000. Saudi Central Bank acquired a new position in shares of NIKE in the 1st quarter valued at $30,000. Roxbury Financial LLC increased its position in shares of NIKE by 52.1% in the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after acquiring an additional 201 shares during the period. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of NIKE in the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. UBS Group assumed coverage on shares of NIKE in a report on Sunday, July 6th. They issued a "buy" rating on the stock. Argus raised shares of NIKE to a "buy" rating in a report on Sunday, July 6th. HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a report on Friday, June 27th. Wells Fargo & Company upped their price target on shares of NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $70.00 price target on shares of NIKE in a report on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and thirteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $78.22.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.80% of the company's stock.

NIKE Trading Up 0.9%

Shares of NIKE stock opened at $75.38 on Friday. The firm has a market capitalization of $111.33 billion, a PE ratio of 34.90, a P/E/G ratio of 2.72 and a beta of 1.24. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The firm's 50-day moving average price is $75.44 and its 200 day moving average price is $68.00. 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 issued its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. NIKE's quarterly revenue was down 11.9% compared to the same quarter last year. During the same period last year, the company posted $0.99 EPS. On average, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

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

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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