Cim LLC Lowers Stake in NIKE, Inc. (NYSE:NKE)

Cim LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 41.4% in the fourth quarter, according to its most recent 13F filing with the 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Norges Bank acquired a new position in shares of NIKE in the 4th quarter valued at $1,126,288,000. Wellington Management Group LLP raised its position in shares of NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after acquiring an additional 8,898,591 shares during the period. Pacer Advisors Inc. boosted its stake in shares of NIKE by 6,029.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker's stock worth $516,166,000 after acquiring an additional 6,709,985 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of NIKE by 18.1% during 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 acquiring an additional 3,121,929 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of NIKE by 1,302.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after acquiring an additional 2,416,601 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

Insiders Place Their Bets

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was purchased 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. This trade represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by insiders.

NIKE Trading Down 1.5%

Shares of NKE stock traded down $0.92 on Friday, hitting $60.52. 18,129,878 shares of the stock traded hands, compared to its average volume of 15,008,233. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04. The firm's 50-day moving average price is $59.20 and its two-hundred day moving average price is $69.78. The stock has a market capitalization of $89.52 billion, a PE ratio of 18.68, 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 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE's revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 EPS. As a group, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors 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 yield of 2.64%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio is presently 53.16%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered their price target on NIKE from $64.00 to $56.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Williams Trading decreased their target price on NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, April 21st. Guggenheim reissued a "buy" rating and issued a $110.00 price target on shares of NIKE in a research note on Wednesday, February 12th. Morgan Stanley cut their price target on shares of NIKE from $72.00 to $70.00 and set an "equal weight" rating for the company in a report on Friday, March 21st. Finally, Berenberg Bank assumed coverage on shares of NIKE in a report on Tuesday, April 15th. They set a "hold" rating and a $58.00 price objective on the stock. Seventeen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.