Sei Investments Co. Reduces Holdings in NIKE, Inc. (NYSE:NKE)

Key Points

• Sei Investments Co. reduced its stake in NIKE, Inc. by 2.0%, selling 14,125 shares, leaving it with 676,793 shares valued at approximately $42.96 million.
• NIKE's stock has received several upgrades from analysts, with Citigroup increasing its price target from $57 to $68, and Bank of America raising it from $80 to $84, contributing to a consensus rating of "Moderate Buy" with an average target price of $78.22.
• NIKE recently announced a quarterly dividend of $0.40 per share, representing an annualized dividend of $1.60, yielding about 2.1%, with a payout ratio of 74.07%.

Sei Investments Co. reduced its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 2.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 676,793 shares of the footwear maker's stock after selling 14,125 shares during the quarter. Sei Investments Co.'s holdings in NIKE were worth $42,963,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of NKE. Goldman Sachs Group Inc. lifted its holdings in NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after acquiring an additional 20,688,013 shares during the period. Jennison Associates LLC bought a new stake in NIKE during the first quarter worth $509,051,000. Nuveen LLC bought a new stake in NIKE during the first quarter worth $502,285,000. Vanguard Group Inc. raised its stake in shares of NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock valued at $7,182,831,000 after buying an additional 4,957,494 shares during the period. Finally, Capital World Investors raised its stake in shares of NIKE by 10.3% in the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after buying an additional 2,288,627 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NKE has been the topic of several research reports. Wall Street Zen lowered NIKE from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Barclays boosted their target price on NIKE from $53.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. DZ Bank lowered NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price on the stock. in a research note on Thursday, July 10th. The Goldman Sachs Group boosted their target price on NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Finally, Jefferies Financial Group restated a "buy" rating on shares of NIKE in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $78.22.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction 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 represents a 11.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.80% of the stock is owned by corporate insiders.

NIKE Price Performance

Shares of NKE traded up $0.78 during midday trading on Friday, reaching $77.17. The stock had a trading volume of 9,764,949 shares, compared to its average volume of 10,925,215. The company's 50-day moving average is $71.05 and its 200 day moving average is $67.63. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $113.97 billion, a price-to-earnings ratio of 35.73, a price-to-earnings-growth ratio of 2.80 and a beta of 1.27.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. NIKE's quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 EPS. On average, equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.1%. NIKE's dividend payout ratio is currently 74.07%.

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.