Infusive Asset Management Inc. Cuts Holdings in NIKE, Inc. $NKE

Key Points

• Infusive Asset Management has reduced its stake in NIKE by 37.2%, selling 38,735 shares and now holding 65,436 shares valued at approximately $4.15 million.
• Institutional investors own 64.25% of NIKE's stock, with several entities, including Mackenzie Financial Corp and Janus Henderson Group PLC, increasing their holdings significantly.
• NIKE recently announced a quarterly dividend of $0.40, yielding 2.1% annually, with a payout ratio of 74.07% as of the latest filing.

Infusive Asset Management Inc. lessened its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 37.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,436 shares of the footwear maker's stock after selling 38,735 shares during the quarter. NIKE accounts for 1.9% of Infusive Asset Management Inc.'s portfolio, making the stock its 21st largest position. Infusive Asset Management Inc.'s holdings in NIKE were worth $4,154,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Heck Capital Advisors LLC purchased a new position in shares of NIKE during the fourth quarter worth $28,000. Stone House Investment Management LLC acquired a new position in NIKE in the 1st quarter valued at $25,000. Saudi Central Bank purchased a new stake in NIKE during the 1st quarter worth $30,000. Putney Financial Group LLC acquired a new stake in shares of NIKE in the 4th quarter valued at about $40,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in NIKE during the fourth quarter worth about $42,000. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Trading Down 1.9%

Shares of NYSE:NKE traded down $1.44 during trading on Friday, reaching $73.91. 13,753,260 shares of the company traded hands, compared to its average volume of 9,345,736. The business's fifty day moving average is $75.48 and its 200-day moving average is $67.85. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The firm has a market capitalization of $109.16 billion, a price-to-earnings ratio of 34.22, a P/E/G ratio of 2.69 and a beta of 1.24. 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 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 during the quarter, compared to the consensus estimate of $10.69 billion. During the same period last year, the company earned $0.99 earnings per share. The company's revenue was down 11.9% on a year-over-year basis. As a group, analysts forecast 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. Investors of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. 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 2.2%. NIKE's dividend payout ratio (DPR) is presently 74.07%.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction that occurred on Thursday, August 14th. The stock was 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 in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.80% of the company's stock.

Analyst Ratings Changes

NKE has been the subject of a number of research analyst reports. UBS Group assumed coverage on shares of NIKE in a research report on Sunday, July 6th. They issued a "buy" rating for the company. Argus raised shares of NIKE to a "buy" rating in a research note on Sunday, July 6th. Morgan Stanley increased their target price on shares of NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. Needham & Company LLC increased their price objective on shares of NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Finally, DZ Bank downgraded shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 price objective on the stock. in a research note on Thursday, July 10th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, NIKE presently has an average rating of "Moderate Buy" and a consensus price target of $78.22.

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.