Cim LLC Sells 8,436 Shares of NIKE, Inc. (NYSE:NKE)

Cim LLC lowered its position in NIKE, Inc. (NYSE:NKE - Free Report) by 41.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,962 shares of the footwear maker's stock after selling 8,436 shares during the period. Cim LLC's holdings in NIKE were worth $905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of NIKE in the fourth quarter worth about $1,126,288,000. Wellington Management Group LLP boosted its position in shares of NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares during the period. Pacer Advisors Inc. boosted its position in NIKE by 6,029.6% in the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker's stock valued at $516,166,000 after buying an additional 6,709,985 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock valued at $1,541,246,000 after purchasing an additional 3,121,929 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in NIKE by 1,302.7% during the 4th 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. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan acquired 8,600 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now owns 31,983 shares of the company's stock, valued at $1,869,726.18. The trade was a 36.78% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company's stock.

NIKE Stock Performance

NKE stock traded down $0.92 during mid-day trading on Friday, reaching $60.52. 18,145,753 shares of the stock traded hands, compared to its average volume of 15,031,109. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The business has a 50-day moving average of $59.08 and a two-hundred day moving average of $69.67. The firm has a market capitalization of $89.52 billion, a PE ratio of 18.68, a P/E/G ratio of 2.52 and a beta of 1.23.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 earnings per share. As a group, equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio is presently 53.16%.

Analyst Ratings Changes

Several research analysts have issued reports on NKE shares. BMO Capital Markets lowered their price objective on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Dbs Bank raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. The Goldman Sachs Group cut their target price on shares of NIKE from $88.00 to $72.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. UBS Group lowered their price target on shares of NIKE from $73.00 to $66.00 and set a "neutral" rating for the company in a report on Friday, March 21st. Finally, Needham & Company LLC reduced their price target on shares of NIKE from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, NIKE presently has a consensus rating of "Moderate Buy" and an average target price of $80.26.

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.