Generate Investment Management Ltd Sells 5,875 Shares of NIKE, Inc. $NKE

Key Points

• Generate Investment Management Ltd reduced its stake in NIKE, Inc. by 7.1% in the second quarter, selling 5,875 shares, and now holds a total of 76,831 shares valued at approximately $5.46 million.
• NIKE's latest earnings report showed a profit of $0.14 per share, surpassing the expected $0.12, despite an 11.9% year-over-year decline in revenue to $11.10 billion.
• The company announced a quarterly dividend of $0.40 per share, reflecting an annualized dividend yield of 2.3%, with a payout ratio of 74.07%.

Generate Investment Management Ltd lessened its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 7.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,831 shares of the footwear maker's stock after selling 5,875 shares during the quarter. Generate Investment Management Ltd's holdings in NIKE were worth $5,458,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after purchasing an additional 20,688,013 shares during the period. Wellington Management Group LLP lifted its position in shares of NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after buying an additional 9,043,180 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of NIKE in the first quarter valued at approximately $509,051,000. Nuveen LLC bought a new position in shares of NIKE during the 1st quarter worth approximately $502,285,000. Finally, Vanguard Group Inc. increased its holdings in shares of NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock worth $7,182,831,000 after acquiring an additional 4,957,494 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Up 0.1%

Shares of NYSE:NKE opened at $69.31 on Monday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.26. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The stock's 50-day moving average is $74.99 and its 200 day moving average is $67.26. The company has a market cap of $102.36 billion, a PE ratio of 32.09, a P/E/G ratio of 2.53 and a beta of 1.24.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The firm had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. During the same period in the previous year, the firm earned $0.99 earnings per share. The business's revenue was down 11.9% compared to the same quarter last year. Sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.3%. NIKE's dividend payout ratio is 74.07%.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NKE shares. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of NIKE in a report on Monday, August 18th. Robert W. Baird lifted their target price on shares of NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday, June 27th. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a report on Friday, June 20th. Finally, Argus raised NIKE to a "buy" rating in a report on Sunday, July 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $79.62.

About NIKE

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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