Pacific Capital Partners Ltd Has $1.63 Million Stock Position in NIKE, Inc. $NKE

Key Points

• Pacific Capital Partners Ltd reduced its stake in NIKE, Inc. by 26.2%, now holding 22,891 shares valued at approximately $1.63 million, making NIKE about 1.5% of its portfolio.
• Institutional investors are increasingly backing NIKE, with major firms like Goldman Sachs boosting their stake by 344.2% and Vanguard Group increasing its position by 4.6% in recent quarters.
• NIKE's quarterly earnings reported $0.14 per share, exceeding estimates, despite a 11.9% year-over-year revenue decline, with analysts currently rating the stock as a "Moderate Buy."

Pacific Capital Partners Ltd reduced its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 26.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 22,891 shares of the footwear maker's stock after selling 8,140 shares during the quarter. NIKE makes up about 1.5% of Pacific Capital Partners Ltd's portfolio, making the stock its 23rd largest holding. Pacific Capital Partners Ltd's holdings in NIKE were worth $1,626,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in NIKE by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock valued at $7,182,831,000 after acquiring an additional 4,957,494 shares during the period. Wellington Management Group LLP increased its position in NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after acquiring an additional 9,043,180 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of NIKE by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after purchasing an additional 620,214 shares during the last quarter. Finally, Flossbach Von Storch SE boosted its stake in shares of NIKE by 24.0% in the 1st quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock valued at $652,995,000 after purchasing an additional 1,988,547 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

NKE has been the topic of a number of analyst reports. Jefferies Financial Group reaffirmed a "buy" rating and issued a $115.00 price objective on shares of NIKE in a research note on Friday, August 22nd. Bank of America upped their price objective on shares of NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Royal Bank Of Canada reduced their price objective on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 20th. DZ Bank lowered shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 price objective on the stock. in a research note on Thursday, July 10th. Finally, The Goldman Sachs Group upped their price objective on shares of NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat, NIKE currently has an average rating of "Moderate Buy" and an average target price of $78.67.

NIKE Stock Down 1.6%

Shares of NYSE NKE opened at $73.12 on Friday. The firm has a market cap of $107.98 billion, a PE ratio of 33.85, a P/E/G ratio of 2.70 and a beta of 1.24. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The company's fifty day simple moving average is $75.40 and its 200 day simple moving average is $67.72. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same period in the prior year, the firm earned $0.99 earnings per share. NIKE's revenue was down 11.9% on a year-over-year basis. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is 74.07%.

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.

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