NIKE, Inc. $NKE Shares Sold by Northern Trust Corp

Key Points

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Northern Trust Corp trimmed its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,499,282 shares of the footwear maker's stock after selling 191,153 shares during the period. Northern Trust Corp owned about 0.98% of NIKE worth $920,414,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NKE. Vanguard Group Inc. boosted its stake in NIKE by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of NIKE by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock worth $1,332,331,000 after buying an additional 620,214 shares during the period. Flossbach Von Storch SE grew its holdings in shares of NIKE by 24.0% during the first quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock valued at $652,995,000 after buying an additional 1,988,547 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in NIKE by 3.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,507,250 shares of the footwear maker's stock valued at $603,445,000 after buying an additional 301,497 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction on 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 sale, the chairman owned 842,361 shares of the company's stock, valued at $60,894,276.69. The trade was a 11.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.80% of the stock is currently owned by company insiders.

NIKE Price Performance

Shares of NIKE stock opened at $77.43 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The company has a market cap of $114.36 billion, a PE ratio of 35.85, a price-to-earnings-growth ratio of 2.80 and a beta of 1.27. The firm has a fifty day moving average price of $71.36 and a two-hundred day moving average price of $67.56. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $10.69 billion. During the same period last year, the business earned $0.99 earnings per share. The firm's revenue for the quarter was down 11.9% compared to the same quarter last year. Analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is 74.07%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. DZ Bank downgraded NIKE from a "buy" rating to a "hold" rating and set a $76.00 price objective for the company. in a research note on Thursday, July 10th. Williams Trading lowered their price objective on shares of NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research note on Friday, June 27th. The Goldman Sachs Group upped their price target on shares of NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Finally, Wall Street Zen cut NIKE from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.22.

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.

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