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

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

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Hollencrest Capital Management lifted its stake in shares of NIKE by 41.3% in the 1st quarter. Hollencrest Capital Management now owns 1,537 shares of the footwear maker's stock worth $98,000 after acquiring an additional 449 shares during the period. Creekmur Asset Management LLC increased its holdings in shares of NIKE by 1,672.3% in the 1st quarter. Creekmur Asset Management LLC now owns 2,942 shares of the footwear maker's stock valued at $187,000 after purchasing an additional 2,776 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of NIKE in the 1st quarter valued at about $509,051,000. Saturna Capital Corp purchased a new position in shares of NIKE in the 1st quarter valued at about $6,665,000. Finally, Pecaut & CO. increased its holdings in NIKE by 43.1% during the 1st quarter. Pecaut & CO. now owns 56,912 shares of the footwear maker's stock valued at $3,613,000 after acquiring an additional 17,150 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Up 1.3%

Shares of NYSE:NKE traded up $0.93 during trading on Tuesday, hitting $74.95. The stock had a trading volume of 6,401,779 shares, compared to its average volume of 15,067,397. 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 $110.86 billion, a PE ratio of 34.72, a PEG ratio of 2.66 and a beta of 1.25. The firm's fifty day moving average is $65.49 and its 200 day moving average is $67.17. 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 posted its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter last year, the company earned $0.99 EPS. Analysts anticipate that NIKE, Inc. will post 2.05 EPS 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 paid a dividend of $0.40 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.13%. NIKE's dividend payout ratio is 74.07%.

Insider Activity

In other news, Chairman Mark G. Parker sold 110,000 shares of the 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 owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NKE shares. Wells Fargo & Company lifted their price objective on shares of NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. Argus raised NIKE to a "buy" rating in a research note on Sunday, July 6th. Evercore ISI cut their target price on NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday, June 24th. Jefferies Financial Group restated a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Finally, Robert W. Baird raised their price target on NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $77.15.

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.