Intech Investment Management LLC Sells 19,751 Shares of NIKE, Inc. $NKE

Key Points

• Intech Investment Management LLC sold 19,751 shares of NIKE, reducing its holdings by 11.3% in the first quarter, resulting in a total of 154,504 shares valued at approximately $9.8 million.
• NIKE's Chairman, Mark G. Parker, sold 86,078 shares of the company's stock for about $6.54 million, representing a 10.36% decrease in his holdings.
• Recently, NIKE declared a quarterly dividend of $0.40 per share, providing an annual yield of 2.2% and indicating a payout ratio of 74.07%.

Intech Investment Management LLC decreased its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 11.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 154,504 shares of the footwear maker's stock after selling 19,751 shares during the quarter. Intech Investment Management LLC's holdings in NIKE were worth $9,808,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Spire Wealth Management lifted its position in NIKE by 4.4% during the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after purchasing an additional 416 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock valued at $69,932,000 after buying an additional 5,601 shares during the period. OMERS ADMINISTRATION Corp boosted its stake in shares of NIKE by 20.2% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 52,370 shares of the footwear maker's stock worth $3,963,000 after buying an additional 8,792 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of NIKE by 75.1% in the fourth quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker's stock worth $40,835,000 after acquiring an additional 231,417 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of NIKE in the first quarter worth $25,963,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insider Buying and Selling

In other NIKE news, 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 owned 744,988 shares of the company's stock, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is currently owned by insiders.

NIKE Stock Up 0.8%

Shares of NKE opened at $74.22 on Thursday. The business's 50 day moving average is $75.50 and its 200 day moving average is $67.91. 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, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The company has a market capitalization of $109.61 billion, a PE ratio of 34.36, a price-to-earnings-growth ratio of 2.67 and a beta of 1.24.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company's revenue was down 11.9% on a year-over-year basis. During the same period last year, the firm posted $0.99 EPS. Research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared 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. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. NIKE's payout ratio is currently 74.07%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their target price on NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a report on Friday, June 20th. Argus upgraded shares of NIKE to a "buy" rating in a research note on Sunday, July 6th. The Goldman Sachs Group raised their price objective on shares of NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Needham & Company LLC upped their target price on shares of NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a report on Friday, June 27th. Finally, Morgan Stanley increased their price target on shares of NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $78.67.

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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