Assetmark Inc. Lowers Position in NIKE, Inc. (NYSE:NKE)

Assetmark Inc. lowered its position in NIKE, Inc. (NYSE:NKE - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 97,631 shares of the footwear maker's stock after selling 7,525 shares during the period. Assetmark Inc.'s holdings in NIKE were worth $6,198,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its stake in NIKE by 10.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock valued at $14,447,000 after purchasing an additional 17,888 shares during the last quarter. Intrust Bank NA grew its holdings in NIKE by 12.1% during the fourth quarter. Intrust Bank NA now owns 4,865 shares of the footwear maker's stock worth $368,000 after buying an additional 525 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in NIKE by 7,238.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,627,424 shares of the footwear maker's stock worth $123,147,000 after acquiring an additional 1,605,248 shares during the last quarter. Finally, Schroder Investment Management Group boosted its holdings in NIKE by 12.9% during the fourth quarter. Schroder Investment Management Group now owns 1,940,186 shares of the footwear maker's stock worth $144,835,000 after purchasing an additional 221,349 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Trading Down 1.2%

Shares of NYSE:NKE traded down $0.92 during midday trading on Friday, hitting $73.77. 4,771,155 shares of the stock traded hands, compared to its average volume of 17,443,189. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The business's 50 day moving average is $68.07 and its two-hundred day moving average is $67.51. The stock has a market capitalization of $108.95 billion, a PE ratio of 34.17, a P/E/G ratio of 2.79 and a beta of 1.25. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. NIKE's revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.99 EPS. As a group, research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of the firm's 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 completion of the sale, the chairman owned 842,361 shares of the company's stock, valued at $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on NKE shares. UBS Group started coverage on shares of NIKE in a research note on Sunday, July 6th. They issued a "buy" rating on the stock. Argus upgraded NIKE to a "buy" rating in a research note on Sunday, July 6th. Stifel Nicolaus dropped their price objective on shares of NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. upgraded shares of NIKE from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $64.00 to $93.00 in a research note on Monday. Finally, Hsbc Global Res upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $78.22.

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.