Two Sigma Investments LP Lowers Stock Holdings in NIKE, Inc. (NYSE:NKE)

Two Sigma Investments LP cut its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 18.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,095,590 shares of the footwear maker's stock after selling 488,503 shares during the period. Two Sigma Investments LP owned 0.14% of NIKE worth $158,573,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NKE. Norges Bank purchased a new stake in NIKE in the fourth quarter worth about $1,126,288,000. Wellington Management Group LLP lifted its holdings in shares of NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after purchasing an additional 8,898,591 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of NIKE by 6,029.6% during the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker's stock valued at $516,166,000 after purchasing an additional 6,709,985 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of NIKE by 18.1% during the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock valued at $1,541,246,000 after purchasing an additional 3,121,929 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of NIKE by 1,302.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after purchasing an additional 2,416,601 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the business's stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company's stock.

NIKE Stock Performance

NYSE:NKE traded down $1.30 during trading hours on Friday, reaching $60.02. The company had a trading volume of 14,271,999 shares, compared to its average volume of 14,940,172. 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, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The firm has a market cap of $88.78 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 2.52 and a beta of 1.23. The firm's 50 day moving average price is $59.88 and its 200-day moving average price is $70.18.

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

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Monday, June 2nd. NIKE's payout ratio is 53.16%.

Wall Street Analyst Weigh In

NKE has been the subject of several recent research reports. The Goldman Sachs Group lowered their target price on shares of NIKE from $88.00 to $72.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Citigroup lowered their target price on shares of NIKE from $72.00 to $57.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Williams Trading lowered their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a report on Monday, April 21st. Robert W. Baird lowered their target price on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Finally, Barclays lowered their target price on shares of NIKE from $70.00 to $60.00 and set an "equal weight" rating for the company in a report on Monday, May 12th. Seventeen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.26.

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.