RB Capital Management LLC Sells 6,280 Shares of NIKE, Inc. $NKE

Key Points

• RB Capital Management LLC reduced its stake in NIKE, Inc. by 12.0%, selling 6,280 shares and holding 46,156 shares worth approximately $2.93 million.
• NIKE's recent quarterly earnings showed a net margin of 6.95% and a revenue of $11.10 billion, exceeding expectations despite a 11.9% decline year over year.
• The company announced a quarterly dividend of $0.40 per share, resulting in a 2.0% dividend yield for shareholders, with a current payout ratio of 74.07%.

RB Capital Management LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 12.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,156 shares of the footwear maker's stock after selling 6,280 shares during the period. RB Capital Management LLC's holdings in NIKE were worth $2,930,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after purchasing an additional 160,980 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in shares of NIKE by 10.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock worth $14,447,000 after acquiring an additional 17,888 shares during the period. Integrated Wealth Concepts LLC boosted its position in shares of NIKE by 46.1% during the 4th quarter. Integrated Wealth Concepts LLC now owns 25,346 shares of the footwear maker's stock valued at $1,918,000 after acquiring an additional 7,998 shares in the last quarter. Perbak Capital Partners LLP bought a new stake in NIKE in the fourth quarter valued at about $248,000. Finally, AQR Capital Management LLC raised its position in NIKE by 46.0% in the fourth quarter. AQR Capital Management LLC now owns 116,428 shares of the footwear maker's stock worth $8,810,000 after purchasing an additional 36,673 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Stock Down 0.5%

Shares of NYSE:NKE opened at $78.74 on Wednesday. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The firm has a market cap of $116.29 billion, a P/E ratio of 36.45, a P/E/G ratio of 2.88 and a beta of 1.27. 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 company's 50-day moving average price is $73.23 and its two-hundred day moving average price is $67.77.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating 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 analysts' expectations 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% compared to the same quarter last year. As a group, research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.0%. NIKE's payout ratio is presently 74.07%.

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated 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 directly owned 842,361 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NKE. Deutsche Bank Aktiengesellschaft decreased their price objective on NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a report on Friday, June 20th. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. HSBC upgraded NIKE from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a research note on Friday, June 27th. Wall Street Zen downgraded shares of NIKE from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Finally, Argus raised shares of NIKE to a "buy" rating in a report on Sunday, July 6th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, NIKE currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.22.

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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