Generali Asset Management SPA SGR Sells 20,027 Shares of NIKE, Inc. $NKE

Key Points

• Generali Asset Management SPA SGR has reduced its holdings in NIKE, Inc. by 18.4%, selling 20,027 shares and now owning 88,770 shares worth approximately $6,306,000 as of the end of the most recent quarter.
• Analysts have largely rated NIKE positively, with three$82.21, reflecting optimism about the company's future growth.
• NIKE announced a quarterly dividend of $0.40 per share, which equates to a 2.3% yield, and has a dividend payout ratio of 82.05%.

Generali Asset Management SPA SGR lessened its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 18.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,770 shares of the footwear maker's stock after selling 20,027 shares during the period. Generali Asset Management SPA SGR's holdings in NIKE were worth $6,306,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Ritholtz Wealth Management grew its holdings in shares of NIKE by 5.1% in the second quarter. Ritholtz Wealth Management now owns 9,392 shares of the footwear maker's stock worth $667,000 after acquiring an additional 453 shares during the period. Mitchell Mcleod Pugh & Williams Inc. grew its stake in shares of NIKE by 1.0% during the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker's stock valued at $1,007,000 after purchasing an additional 134 shares during the period. Arlington Financial Advisors LLC grew its stake in shares of NIKE by 27.6% during the 2nd quarter. Arlington Financial Advisors LLC now owns 57,947 shares of the footwear maker's stock valued at $4,117,000 after purchasing an additional 12,529 shares during the period. Bayforest Capital Ltd bought a new stake in shares of NIKE during the 2nd quarter valued at about $121,000. Finally, Equitable Trust Co. grew its position in NIKE by 14.5% during the second quarter. Equitable Trust Co. now owns 6,434 shares of the footwear maker's stock valued at $457,000 after buying an additional 813 shares during the period. Institutional investors own 64.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NKE shares. BTIG Research started coverage on shares of NIKE in a research report on Tuesday. They set a "buy" rating and a $100.00 target price for the company. Morgan Stanley set a $72.00 price objective on shares of NIKE and gave the company a "positive" rating in a research report on Wednesday, October 1st. Hsbc Global Res raised NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Telsey Advisory Group reissued a "market perform" rating and set a $75.00 price target on shares of NIKE in a report on Wednesday, October 1st. Finally, Cowen upgraded NIKE from a "hold" rating to a "buy" rating in a research note on Wednesday, September 10th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $82.21.

Insider Buying and Selling at NIKE

In related news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares of the company's stock, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the transaction, the chairman directly owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.

NIKE Stock Performance

NYSE NKE opened at $68.45 on Thursday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $84.76. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The firm has a market cap of $101.18 billion, a price-to-earnings ratio of 35.10, a price-to-earnings-growth ratio of 2.49 and a beta of 1.29. The business has a 50-day moving average price of $73.38 and a 200-day moving average price of $67.34.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. NIKE's revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.3%. NIKE's dividend payout ratio (DPR) is 82.05%.

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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