MetLife Investment Management LLC Decreases Position in NIKE, Inc. $NKE

Key Points

• MetLife Investment Management LLC reduced its holdings in NIKE, Inc. by 2.5%, owning 338,635 shares after selling 8,559 shares during the first quarter.
• NIKE reported a quarterly EPS of $0.14, surpassing expectations, with revenues of $11.10 billion despite an 11.9% decline year-over-year.
• The company recently announced a quarterly dividend of $0.40 per share, which represents an annualized yield of 2.0% and a payout ratio of 74.07%.

MetLife Investment Management LLC lessened its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 338,635 shares of the footwear maker's stock after selling 8,559 shares during the period. MetLife Investment Management LLC's holdings in NIKE were worth $21,497,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Spire Wealth Management lifted its holdings in shares of NIKE by 4.4% during the 1st 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 last quarter. Capitolis Liquid Global Markets LLC raised its stake in NIKE by 40.9% in the 4th quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock worth $23,458,000 after acquiring an additional 90,000 shares during the last quarter. Janus Henderson Group PLC raised its stake in NIKE by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock worth $460,160,000 after acquiring an additional 463,470 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in NIKE by 0.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock worth $69,932,000 after acquiring an additional 5,601 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp raised its stake in 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 acquiring an additional 8,792 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Price Performance

NYSE:NKE opened at $78.4040 on Monday. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $115.79 billion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The stock's 50-day moving average price is $72.51 and its 200-day moving average price is $67.62.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating analysts' consensus estimates 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 last year, the firm earned $0.99 EPS. The company's quarterly revenue was down 11.9% on a year-over-year basis. As a group, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 dividend yield of 2.0%. NIKE's dividend payout ratio (DPR) 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 stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

NKE has been the subject of a number of research analyst reports. DZ Bank lowered NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price for the company. in a research note on Thursday, July 10th. Deutsche Bank Aktiengesellschaft reduced their target price on NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research note on Friday, June 20th. Morgan Stanley raised their target price on NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Friday, June 27th. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Finally, Robert W. Baird raised their target price on NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $78.22.

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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