JLB & Associates Inc. Trims Stock Position in NIKE, Inc. $NKE

Key Points

• JLB & Associates Inc. reduced its stake in NIKE, Inc. by 29.5%, selling 18,010 shares in the second quarter, leaving them with 42,939 shares valued at approximately $3 million.
• NIKE recently declared a quarterly dividend of $0.40 per share, payable on October 1st, representing an annualized yield of 2.3%.
• Several research firms have adjusted their price targets for NIKE, with Goldman Sachs setting a new target of $85.00 and HSBC upgrading the stock to a "buy" rating.

JLB & Associates Inc. cut its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 29.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,939 shares of the footwear maker's stock after selling 18,010 shares during the period. JLB & Associates Inc.'s holdings in NIKE were worth $3,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of NIKE by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock valued at $7,182,831,000 after buying an additional 4,957,494 shares during the period. Wellington Management Group LLP raised its position in NIKE by 24.9% during 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 acquiring an additional 9,043,180 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after acquiring an additional 20,688,013 shares during the period. Bank of New York Mellon Corp lifted its holdings in NIKE by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after acquiring an additional 620,214 shares during the period. Finally, Flossbach Von Storch SE boosted its position in NIKE by 24.0% in the 1st quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock worth $652,995,000 after purchasing an additional 1,988,547 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Trading Up 0.4%

Shares of NKE stock opened at $69.57 on Tuesday. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $89.75. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The stock's fifty day moving average is $74.90 and its two-hundred day moving average is $67.25. The firm has a market capitalization of $102.75 billion, a P/E ratio of 32.21, a PEG ratio of 2.53 and a beta of 1.24.

NIKE Dividend Announcement

The firm also recently declared 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 is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. NIKE's payout ratio is presently 74.07%.

Analysts Set New Price Targets

Several research firms recently issued reports on NKE. Barclays boosted their target price on shares of NIKE from $64.00 to $65.00 and gave the company an "equal weight" rating in a research note on Thursday, September 18th. Wall Street Zen raised shares of NIKE from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Telsey Advisory Group raised their target price on NIKE from $70.00 to $75.00 and gave the company a "market perform" rating in a research report on Tuesday, September 23rd. The Goldman Sachs Group set a $85.00 price target on NIKE and gave the stock a "buy" rating in a report on Thursday. Finally, HSBC upgraded NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a research report on Friday, June 27th. Three equities 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 MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $79.62.

Insider Transactions at NIKE

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 value of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% of the company's stock.

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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