Migdal Insurance & Financial Holdings Ltd. Trims Position in NIKE, Inc. (NYSE:NKE)

Migdal Insurance & Financial Holdings Ltd. decreased its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 99.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,012 shares of the footwear maker's stock after selling 650,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.'s holdings in NIKE were worth $64,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in NIKE during the fourth quarter worth about $1,126,288,000. Wellington Management Group LLP raised its stake in NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after acquiring an additional 8,898,591 shares in the last quarter. Jennison Associates LLC acquired a new position in NIKE during the first quarter worth about $509,051,000. Renaissance Technologies LLC increased its stake in shares of NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after buying an additional 2,416,601 shares during the period. Finally, Capital World Investors increased its stake in shares of NIKE by 10.3% in the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after buying an additional 2,288,627 shares during the period. Institutional investors own 64.25% of the company's stock.

Insider Activity

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares of the company's stock, valued at $60,894,276.69. This trade represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Needham & Company LLC upped their price objective on NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Bank of America increased their target price on shares of NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Jefferies Financial Group reissued a "buy" rating on shares of NIKE in a research report on Friday, May 23rd. JPMorgan Chase & Co. increased their target price on shares of NIKE from $56.00 to $64.00 and gave the company a "neutral" 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 target price for the company. in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $77.15.

NIKE Stock Up 1.7%

NYSE NKE traded up $1.29 on Wednesday, reaching $76.68. The company had a trading volume of 4,048,791 shares, compared to its average volume of 15,026,238. The stock has a market capitalization of $113.41 billion, a P/E ratio of 35.52, a P/E/G ratio of 2.72 and a beta of 1.25. The company's fifty day moving average is $65.49 and its 200 day moving average is $67.17. 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.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly 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 business had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same period in the prior year, the firm posted $0.99 EPS. NIKE's quarterly revenue was down 11.9% compared to the same quarter last year. Sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Monday, June 2nd. NIKE's dividend payout ratio is presently 74.07%.

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.