Sarasin & Partners LLP Cuts Stake in NIKE, Inc. (NYSE:NKE)

Sarasin & Partners LLP reduced its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 20.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 254,677 shares of the footwear maker's stock after selling 65,085 shares during the quarter. Sarasin & Partners LLP's holdings in NIKE were worth $16,167,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new position in NIKE during the 4th quarter valued at $28,000. Caitlin John LLC grew its position in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock worth $28,000 after buying an additional 200 shares during the period. Roxbury Financial LLC purchased a new stake in shares of NIKE in the 4th quarter worth about $30,000. LFA Lugano Financial Advisors SA grew its position in shares of NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after buying an additional 210 shares during the period. Finally, Hopwood Financial Services Inc. purchased a new stake in shares of NIKE in the 4th quarter worth about $30,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

NIKE stock traded up $0.41 during midday trading on Thursday, hitting $63.18. The stock had a trading volume of 5,172,159 shares, compared to its average volume of 15,010,670. The firm's fifty day moving average is $58.92 and its two-hundred day moving average is $69.38. The company has a market capitalization of $93.45 billion, a PE ratio of 19.50, a P/E/G ratio of 2.52 and a beta of 1.23. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm's quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. On average, research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio is 53.16%.

Insider Buying and Selling

In related news, Director Robert Holmes Swan acquired 8,600 shares of the business's stock in a transaction on Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of recent research reports. China Renaissance initiated coverage on shares of NIKE in a research report on Wednesday, March 19th. They issued a "hold" rating on the stock. Needham & Company LLC reduced their target price on shares of NIKE from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Robert W. Baird reduced their target price on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. The Goldman Sachs Group reduced their target price on shares of NIKE from $88.00 to $72.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Telsey Advisory Group reduced their target price on shares of NIKE from $80.00 to $70.00 and set a "market perform" rating on the stock in a research report on Tuesday, May 6th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $80.26.

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.