Milestone Asset Management LLC Cuts Holdings in NIKE, Inc. (NYSE:NKE)

Milestone Asset Management LLC lowered its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 76.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,590 shares of the footwear maker's stock after selling 84,898 shares during the quarter. Milestone Asset Management LLC's holdings in NIKE were worth $1,625,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Klein Pavlis & Peasley Financial Inc. raised its holdings in NIKE by 31.1% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker's stock worth $1,955,000 after acquiring an additional 6,124 shares in the last quarter. Renaissance Technologies LLC raised its holdings in NIKE by 1,302.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock worth $196,901,000 after acquiring an additional 2,416,601 shares in the last quarter. Capitolis Liquid Global Markets LLC raised its holdings in NIKE by 40.9% during the fourth 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 in the last quarter. Janus Henderson Group PLC raised its holdings in NIKE by 8.3% during the fourth 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 in the last quarter. Finally, Markel Group Inc. raised its holdings in NIKE by 0.8% during the fourth quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker's stock worth $32,720,000 after acquiring an additional 3,500 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

NIKE stock traded up $0.34 during midday trading on Thursday, hitting $63.11. 5,609,631 shares of the company's stock were exchanged, compared to its average volume of 15,012,335. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04. The stock has a 50-day moving average price of $58.92 and a two-hundred day moving average price of $69.38. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company has a market cap of $93.35 billion, a P/E ratio of 19.48, a PEG ratio of 2.52 and a beta of 1.23.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $11.02 billion. During the same period in the previous year, the business earned $0.98 earnings per share. The firm's revenue was down 9.1% on a year-over-year basis. On average, equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Monday, June 2nd. NIKE's payout ratio is currently 53.16%.

Wall Street Analyst Weigh In

NKE has been the topic of several analyst reports. Cfra Research upgraded NIKE to a "moderate buy" rating in a report on Friday, March 21st. Morgan Stanley dropped their price objective on NIKE from $72.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Friday, March 21st. Telsey Advisory Group dropped their price objective on NIKE from $80.00 to $70.00 and set a "market perform" rating on the stock in a research note on Tuesday, May 6th. Needham & Company LLC decreased their target price on NIKE from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Finally, Berenberg Bank started coverage on NIKE in a research report on Tuesday, April 15th. They issued a "hold" rating and a $58.00 target price on the stock. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $80.26.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan purchased 8,600 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now directly owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This represents a 36.78% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

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.