Fiera Capital Corp Cuts Position in NIKE, Inc. (NYSE:NKE)

Key Points

• Fiera Capital Corp reduced its position in NIKE, Inc. by 8.0%, holding 1,033,483 shares valued at approximately $65.6 million after selling 89,391 shares in the first quarter.
• Multiple hedge funds have increased their holdings in NIKE, with Brighton Jones LLC raising its stake by 388.5% in the fourth quarter alone.
• Chairman Mark G. Parker sold 110,000 shares of NIKE for about $7.95 million, reducing his ownership by 11.55% to 842,361 shares.

Fiera Capital Corp decreased its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,033,483 shares of the footwear maker's stock after selling 89,391 shares during the quarter. Fiera Capital Corp owned approximately 0.07% of NIKE worth $65,606,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NKE. Wellington Management Group LLP boosted its position in NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after acquiring an additional 8,898,591 shares during the last quarter. Geode Capital Management LLC boosted its position in NIKE by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock worth $1,915,110,000 after acquiring an additional 347,178 shares during the last quarter. Capital World Investors boosted its position in NIKE by 10.3% during the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after acquiring an additional 2,288,627 shares during the last quarter. Bank of New York Mellon Corp boosted its position in NIKE by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock worth $1,332,331,000 after acquiring an additional 620,214 shares during the last quarter. Finally, Northern Trust Corp boosted its position in NIKE by 8.8% during the fourth quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock worth $1,111,625,000 after acquiring an additional 1,183,641 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Stock Performance

NIKE stock traded down $0.16 during trading hours on Friday, reaching $74.53. 6,156,431 shares of the stock were exchanged, compared to its average volume of 17,451,600. The stock has a market cap of $110.08 billion, a P/E ratio of 34.45, a P/E/G ratio of 2.79 and a beta of 1.25. 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. The firm's 50 day moving average is $68.07 and its 200 day moving average is $67.51.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.99 EPS. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on NKE. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Argus raised shares of NIKE to a "buy" rating in a research note on Sunday, July 6th. Wells Fargo & Company boosted their price target on shares of NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. Berenberg Bank started coverage on shares of NIKE in a research note on Tuesday, April 15th. They issued a "hold" rating and a $58.00 price target on the stock. Finally, Wall Street Zen downgraded shares of NIKE from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $78.22.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction 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 transaction, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.