UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 876,451 Shares of NIKE, Inc. (NYSE:NKE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 7.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 10,293,935 shares of the footwear maker's stock after selling 876,451 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.70% of NIKE worth $778,942,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Waverly Advisors LLC grew its position in NIKE by 53.3% in the 4th quarter. Waverly Advisors LLC now owns 19,591 shares of the footwear maker's stock worth $1,482,000 after purchasing an additional 6,810 shares in the last quarter. Vident Advisory LLC raised its stake in shares of NIKE by 13.8% during the 4th quarter. Vident Advisory LLC now owns 53,572 shares of the footwear maker's stock worth $4,054,000 after purchasing an additional 6,477 shares during the period. Westwood Holdings Group Inc. bought a new stake in NIKE in the fourth quarter worth about $328,000. St. Clair Advisors LLC bought a new position in shares of NIKE during the 4th quarter valued at approximately $1,343,000. Finally, Twinbeech Capital LP purchased a new stake in shares of NIKE during the 4th quarter worth approximately $46,413,000. Institutional investors own 64.25% of the company's stock.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan purchased 8,600 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of analyst reports. Berenberg Bank started coverage on shares of NIKE in a report on Tuesday, April 15th. They set a "hold" rating and a $58.00 target price on the stock. Robert W. Baird dropped their price objective on NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Bank of America cut their target price on NIKE from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. decreased their price target on NIKE from $64.00 to $56.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Finally, The Goldman Sachs Group lowered their price target on shares of NIKE from $88.00 to $72.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, NIKE presently has an average rating of "Moderate Buy" and an average target price of $80.30.

NIKE Price Performance

NKE stock opened at $62.03 on Tuesday. The stock has a market capitalization of $91.75 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 2.52 and a beta of 1.23. The firm's 50-day moving average price is $60.84 and its two-hundred day moving average price is $70.54. 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 12-month low of $52.28 and a 12-month high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the previous year, the business earned $0.98 EPS. NIKE's revenue was down 9.1% compared to the same quarter last year. As a group, equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared 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 2.58%. The ex-dividend date is Monday, June 2nd. NIKE's dividend payout ratio (DPR) is currently 53.16%.

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.

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