Fisher Asset Management LLC Has $26.61 Million Holdings in NIKE, Inc. $NKE

Key Points

• Fisher Asset Management reduced its NIKE stake by 7.1% in the fourth quarter, selling 31,752 shares and leaving it with 417,639 shares worth about $26.6 million.
• Several analysts cut their outlooks on NIKE, including Goldman Sachs and DA Davidson, and the stock now carries a Hold consensus with an average price target of $62.04.
• NIKE reported quarterly earnings of $0.35 per share, beating estimates, and also announced a $0.41 quarterly dividend payable July 1, while CEO Elliott Hill and Director John W. Rogers Jr. recently bought shares.

Fisher Asset Management LLC cut its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 417,639 shares of the footwear maker's stock after selling 31,752 shares during the quarter. Fisher Asset Management LLC's holdings in NIKE were worth $26,608,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in NKE. Guerra Advisors Inc acquired a new position in NIKE in the third quarter valued at approximately $34,000. Gordian Capital Singapore Pte Ltd acquired a new position in NIKE in the third quarter valued at approximately $35,000. Accredited Wealth Management LLC lifted its stake in NIKE by 268.6% in the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker's stock valued at $36,000 after buying an additional 376 shares during the period. Matrix Trust Co lifted its stake in NIKE by 43.6% in the fourth quarter. Matrix Trust Co now owns 596 shares of the footwear maker's stock valued at $38,000 after buying an additional 181 shares during the period. Finally, Ares Financial Consulting LLC acquired a new position in NIKE in the fourth quarter valued at approximately $40,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $52.00 target price (down from $76.00) on shares of NIKE in a research report on Wednesday, April 1st. Guggenheim lowered their target price on NIKE from $77.00 to $74.00 and set a "buy" rating on the stock in a research report on Wednesday, April 1st. DA Davidson lowered NIKE from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $72.00 to $46.00 in a research report on Thursday, April 2nd. Robert W. Baird lowered their target price on NIKE from $85.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 1st. Finally, CICC Research lowered NIKE from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $69.00 to $58.00 in a research report on Monday, April 6th. Sixteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $62.04.

NIKE Price Performance

Shares of NYSE:NKE opened at $44.85 on Wednesday. The stock's 50 day moving average is $46.22 and its 200-day moving average is $57.04. NIKE, Inc. has a twelve month low of $41.35 and a twelve month high of $80.17. The firm has a market capitalization of $66.42 billion, a price-to-earnings ratio of 29.70, a PEG ratio of 2.37 and a beta of 1.12. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The business had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share. NIKE's revenue was up .1% compared to the same quarter last year. Sell-side analysts forecast that NIKE, Inc. will post 1.51 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.41 per share. The ex-dividend date is Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 3.7%. NIKE's dividend payout ratio is 108.61%.

Insider Buying and Selling

In related news, CEO Elliott Hill purchased 23,660 shares of the firm's stock in a transaction that occurred on Monday, April 13th. The stock was acquired at an average price of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the acquisition, the chief executive officer owned 265,247 shares of the company's stock, valued at $11,211,990.69. This represents a 9.79% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. purchased 4,000 shares of the firm's stock in a transaction that occurred on Thursday, April 9th. The shares were bought at an average price of $43.34 per share, with a total value of $173,360.00. Following the acquisition, the director directly owned 41,022 shares of the company's stock, valued at $1,777,893.48. This represents a 10.80% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is owned by corporate insiders.

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).

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.