Ninety One UK Ltd Trims Stock Position in NIKE, Inc. $NKE

Key Points

• Ninety One UK Ltd has reduced its stake in NIKE, Inc. by 4.7%, now owning 464,073 shares, valued at approximately $32.97 million.
• Despite some institutional investors increasing their positions, a range of analyst ratings suggest a moderate buy consensus for NIKE, with a target price averaging around $79.62.
• NIKE also declared a quarterly dividend of $0.40 per share, showcasing a dividend yield of 2.3% and a payout ratio of 74.07%.

Ninety One UK Ltd lowered its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 4.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 464,073 shares of the footwear maker's stock after selling 22,642 shares during the period. Ninety One UK Ltd's holdings in NIKE were worth $32,968,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in NKE. PFG Investments LLC grew its position in NIKE by 5.3% during the second quarter. PFG Investments LLC now owns 8,555 shares of the footwear maker's stock worth $608,000 after buying an additional 431 shares in the last quarter. Columbia Asset Management grew its position in NIKE by 4.9% during the second quarter. Columbia Asset Management now owns 89,002 shares of the footwear maker's stock worth $6,323,000 after buying an additional 4,127 shares in the last quarter. Powers Advisory Group LLC grew its position in NIKE by 10.0% during the second quarter. Powers Advisory Group LLC now owns 5,049 shares of the footwear maker's stock worth $359,000 after buying an additional 460 shares in the last quarter. Union Bancaire Privee UBP SA grew its position in NIKE by 158.6% during the second quarter. Union Bancaire Privee UBP SA now owns 750 shares of the footwear maker's stock worth $53,000 after buying an additional 460 shares in the last quarter. Finally, Chicago Capital LLC grew its holdings in shares of NIKE by 22.8% during the second quarter. Chicago Capital LLC now owns 18,699 shares of the footwear maker's stock worth $1,328,000 after purchasing an additional 3,475 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Up 0.2%

Shares of NKE stock opened at $69.72 on Wednesday. The stock has a market capitalization of $102.97 billion, a PE ratio of 32.28, a P/E/G ratio of 2.54 and a beta of 1.24. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $89.64. The business has a 50-day moving average of $74.78 and a 200 day moving average of $67.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. The company had revenue of $11.72 billion during the quarter, compared to analysts' expectations of $10.96 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.NIKE's quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 EPS. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.3%. NIKE's dividend payout ratio is presently 74.07%.

Analyst Ratings Changes

Several brokerages have recently commented on NKE. Royal Bank Of Canada raised NIKE from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $76.00 to $90.00 in a report on Thursday, September 18th. Bank of America boosted their price target on shares of NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Evercore ISI cut their target price on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research report on Friday, June 20th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, NIKE presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.62.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares of the company's stock, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.80% of the stock is owned by insiders.

NIKE Company 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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