NIKE, Inc. $NKE Shares Sold by Longview Partners Guernsey LTD

Key Points

• Longview Partners Guernsey LTD reduced its stake in NIKE by 5.8%, selling 281,859 shares, making NIKE the 24th largest position in its portfolio.
• Several institutional investors significantly increased their holdings in NIKE during the 1st quarter, with Goldman Sachs raising its position by 344.2% and Wellington Management increasing its position by 24.9%.
• NIKE reported a quarterly earnings of $0.14 per share, exceeding analysts' expectations, but its revenue decreased by 11.9% year-over-year.

Longview Partners Guernsey LTD reduced its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 5.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,580,222 shares of the footwear maker's stock after selling 281,859 shares during the quarter. NIKE accounts for 2.3% of Longview Partners Guernsey LTD's portfolio, making the stock its 24th largest position. Longview Partners Guernsey LTD owned about 0.31% of NIKE worth $290,752,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in NIKE by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock valued at $7,182,831,000 after acquiring an additional 4,957,494 shares during the period. Wellington Management Group LLP increased its position in NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after acquiring an additional 9,043,180 shares during the period. Goldman Sachs Group Inc. increased its position in NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after acquiring an additional 20,688,013 shares during the period. Bank of New York Mellon Corp increased its position in NIKE by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after acquiring an additional 620,214 shares during the period. Finally, Northern Trust Corp increased its position in NIKE by 8.8% in the 4th quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock valued at $1,111,625,000 after acquiring an additional 1,183,641 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

NKE opened at $79.14 on Tuesday. The stock has a market cap of $116.88 billion, a price-to-earnings ratio of 36.64, a PEG ratio of 2.85 and a beta of 1.27. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average price of $72.85 and a 200 day moving average price of $67.69.

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

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. 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 payout ratio is presently 74.07%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NKE. JPMorgan Chase & Co. raised NIKE from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $64.00 to $93.00 in a research note on Monday, July 28th. Needham & Company LLC raised their target price on NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Wells Fargo & Company lifted their price target on NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Wall Street Zen downgraded NIKE from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of NIKE in a report on Monday, August 18th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of "Moderate Buy" and an average price target of $78.22.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.80% of the company's stock.

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.

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.