USS Investment Management Ltd Sells 43,366 Shares of NIKE, Inc. $NKE

Key Points

• USS Investment Management Ltd reduced its stake in NIKE, Inc. by 17.3%, selling 43,366 shares and holding 207,950 shares valued at approximately $13.2 million as of its latest SEC filing.
• NIKE's institutional investors collectively hold 64.25% of its stock, with several firms, including Heck Capital Advisors and Saudi Central Bank, recently acquiring new positions.
• Analysts have positive outlooks for NIKE, with upgrades from multiple firms and a consensus price target of $78.22, reflecting expectations for future growth despite recent declines in revenue.

USS Investment Management Ltd cut its position in NIKE, Inc. (NYSE:NKE - Free Report) by 17.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 207,950 shares of the footwear maker's stock after selling 43,366 shares during the quarter. USS Investment Management Ltd's holdings in NIKE were worth $13,208,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Heck Capital Advisors LLC bought a new position in shares of NIKE in the 4th quarter valued at about $28,000. Stone House Investment Management LLC bought a new position in NIKE during the first quarter worth about $25,000. Saudi Central Bank bought a new position in NIKE during the first quarter worth about $30,000. Putney Financial Group LLC bought a new position in NIKE during the fourth quarter worth about $40,000. Finally, Minot DeBlois Advisors LLC bought a new position in NIKE during the fourth quarter worth about $42,000. Institutional investors own 64.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. HSBC upgraded NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a report on Friday, June 27th. Robert W. Baird lifted their target price on NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Sanford C. Bernstein reiterated an "outperform" rating on shares of NIKE in a research note on Monday, August 18th. Barclays lifted their price objective on shares of NIKE from $53.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. Finally, UBS Group began coverage on shares of NIKE in a research report on Sunday, July 6th. They set a "buy" rating for the company. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.22.

NIKE Stock Performance

NKE opened at $73.91 on Friday. The business has a fifty day simple moving average of $75.48 and a 200 day simple moving average of $67.91. The company has a market capitalization of $109.16 billion, a PE ratio of 34.22, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 6.95% and a return on equity of 23.33%. NIKE's quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.99 earnings per share. Research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. NIKE's payout ratio is 74.07%.

Insider Activity

In related news, Chairman Mark G. Parker sold 86,078 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.80% of the company's stock.

NIKE 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.

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