UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $261.43 Million Stock Position in NIKE, Inc. $NKE

Key Points

• UBS Asset Management reduced its NIKE stake by 8.7% in the second quarter, selling 605,299 shares and retaining 6.37 million shares worth approximately $261.4 million. Institutional investors own 64.25% of NIKE.
• Analyst sentiment remains cautious, with NIKE carrying a consensus “Hold” rating and an average price target of $52.94; several firms recently lowered or maintained targets between $40 and $48.
• NIKE shares opened at $39.09, near their one-year low, despite the company beating quarterly earnings and revenue expectations. The company declared a quarterly dividend of $0.41 per share, representing a 4.2% yield.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 8.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,368,490 shares of the footwear maker's stock after selling 605,299 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.43% of NIKE worth $261,427,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NKE. Scarborough Advisors LLC acquired a new stake in shares of NIKE in the first quarter valued at $25,000. Cornerstone Financial Management LLC acquired a new stake in NIKE in the fourth quarter worth about $26,000. Sankala Group LLC acquired a new stake in NIKE during the 4th quarter worth $26,000. Meeder Asset Management Inc. increased its holdings in NIKE by 108.4% in the first quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker's stock valued at $29,000 after purchasing an additional 285 shares during the last quarter. Finally, J.Safra Asset Management Corp acquired a new stake in shares of NIKE in the 4th quarter valued at approximately $29,000. 64.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on NKE shares. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $40.00 price objective (down from $47.00) on shares of NIKE in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of NIKE from $43.00 to $45.00 and gave the stock a "hold" rating in a research report on Friday, July 17th. UBS Group set a $48.00 target price on NIKE and gave the stock a "neutral" rating in a report on Wednesday, July 1st. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $45.00 price target on shares of NIKE in a research note on Tuesday, August 25th. Finally, Wells Fargo & Company cut their price objective on NIKE from $45.00 to $40.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty have given a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $52.94.

NIKE Trading Down 1.3%

Shares of NYSE:NKE opened at $39.09 on Tuesday. The business's 50 day simple moving average is $41.82 and its 200 day simple moving average is $46.84. NIKE, Inc. has a 1 year low of $38.17 and a 1 year high of $79.13. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36. The company has a market capitalization of $57.99 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.76 and a beta of 1.11.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The business had revenue of $10.97 billion during the quarter, compared to analysts' expectations of $10.85 billion. NIKE's revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 earnings per share. On average, research analysts anticipate that NIKE, Inc. will post 1.74 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a $0.41 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 annualized dividend and a dividend yield of 4.2%. NIKE's dividend payout ratio (DPR) is presently 78.47%.

Insiders Place Their Bets

In other news, EVP Philip Mccartney sold 17,398 shares of the company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $46.18, for a total transaction of $803,439.64. Following the completion of the transaction, the executive vice president directly owned 53,133 shares in the company, valued at approximately $2,453,681.94. This represents a 24.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Amy Montagne sold 4,867 shares of the company's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $42.05, for a total value of $204,657.35. Following the completion of the transaction, the insider directly owned 57,436 shares of the company's stock, valued at approximately $2,415,183.80. The trade was a 7.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,142 shares of company stock worth $1,169,380 in the last ninety days. Insiders own 1.10% of the company's stock.

About NIKE

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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