Mutual of America Capital Management LLC Sells 5,254 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• Mutual of America Capital Management LLC reduced its stake in NIKE, Inc. by 3.7%, now holding 137,457 shares valued at approximately $8.73 million.
• NIKE's recent quarterly earnings report revealed an EPS of $0.14, surpassing the consensus estimate, while revenue was $11.10 billion but down 11.9% compared to the previous year.
• Institutional investors currently own 64.25% of NIKE's stock, with analysts giving the company an average rating of "Moderate Buy" and a target price of $78.22.

Mutual of America Capital Management LLC decreased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 3.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 137,457 shares of the footwear maker's stock after selling 5,254 shares during the quarter. Mutual of America Capital Management LLC's holdings in NIKE were worth $8,726,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Heck Capital Advisors LLC bought a new stake in NIKE during the fourth quarter worth about $28,000. EnRich Financial Partners LLC boosted its stake in NIKE by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock worth $31,000 after acquiring an additional 273 shares in the last quarter. Putney Financial Group LLC bought a new stake in NIKE during the fourth quarter worth about $40,000. Minot DeBlois Advisors LLC bought a new stake in NIKE during the fourth quarter worth about $42,000. Finally, Roxbury Financial LLC boosted its stake in NIKE by 52.1% during the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after acquiring an additional 201 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on NKE. HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a research note on Friday, June 27th. Bank of America upped their target price on shares of NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. DZ Bank downgraded shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price on the stock. in a research note on Thursday, July 10th. Berenberg Bank began coverage on shares of NIKE in a research note on Tuesday, April 15th. They issued a "hold" rating and a $58.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a research note on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $78.22.

NIKE Price Performance

Shares of NYSE:NKE traded down $0.18 on Friday, reaching $74.17. The company's stock had a trading volume of 6,733,814 shares, compared to its average volume of 17,167,289. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The company has a market cap of $109.54 billion, a P/E ratio of 34.34, a PEG ratio of 2.74 and a beta of 1.27. The company has a 50-day simple moving average of $69.43 and a 200 day simple moving average of $67.63. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business's revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the business earned $0.99 EPS. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is 74.07%.

Insider Activity

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value 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 trade represents a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.