Ethic Inc. Has $6.50 Million Holdings in NIKE, Inc. $NKE

Key Points

• Ethic Inc. reduced its stake in NIKE, Inc. by 6.8% in the first quarter, now holding 100,295 shares worth approximately $6.5 million.
• Several institutional investors, including Spire Wealth Management and OMERS ADMINISTRATION Corp, have increased their holdings in NIKE, indicating ongoing interest from hedge funds.
• Analysts have recently upgraded NIKE's stock ratings, with Goldman Sachs raising its price target from $72 to $81, reflecting positive sentiment about the company's performance.

Ethic Inc. trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 6.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,295 shares of the footwear maker's stock after selling 7,345 shares during the period. Ethic Inc.'s holdings in NIKE were worth $6,495,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Spire Wealth Management grew its stake in NIKE by 4.4% in the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after purchasing an additional 416 shares in the last quarter. Capitolis Liquid Global Markets LLC grew its stake in NIKE by 40.9% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock valued at $23,458,000 after purchasing an additional 90,000 shares in the last quarter. Janus Henderson Group PLC grew its stake in NIKE by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock valued at $460,160,000 after purchasing an additional 463,470 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake in NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock valued at $69,932,000 after purchasing an additional 5,601 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp grew its stake in NIKE by 20.2% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 52,370 shares of the footwear maker's stock valued at $3,963,000 after purchasing an additional 8,792 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

NYSE NKE traded up $0.46 during trading hours on Monday, reaching $77.43. 9,066,871 shares of the company's stock were exchanged, compared to its average volume of 10,973,551. The stock 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. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The firm has a fifty day moving average of $71.36 and a 200-day moving average of $67.56. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

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

NIKE Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently issued reports on NKE shares. Wells Fargo & Company upped their price target on NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. upgraded NIKE from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $64.00 to $93.00 in a research note on Monday, July 28th. Needham & Company LLC upped their price target on NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Finally, Robert W. Baird upped their price target on NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, NIKE has an average rating of "Moderate Buy" and a consensus target price of $78.22.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on 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 owned 842,361 shares of the company's stock, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.80% of the company's stock.

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.