First Manhattan CO. LLC. Has $56.23 Million Stock Position in NIKE, Inc. (NYSE:NKE)

First Manhattan CO. LLC. lowered its position in NIKE, Inc. (NYSE:NKE - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 692,551 shares of the footwear maker's stock after selling 84,282 shares during the period. First Manhattan CO. LLC.'s holdings in NIKE were worth $56,233,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Caitlin John LLC increased its holdings in NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Heck Capital Advisors LLC bought a new position in NIKE during the 4th quarter worth about $28,000. Roxbury Financial LLC bought a new position in NIKE during the 4th quarter worth about $30,000. LFA Lugano Financial Advisors SA increased its holdings in NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after purchasing an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. bought a new position in NIKE during the 4th quarter worth about $30,000. Institutional investors own 64.25% of the company's stock.

NIKE Stock Performance

NKE stock traded down $0.56 during mid-day trading on Friday, hitting $58.35. 13,927,237 shares of the company were exchanged, compared to its average volume of 14,709,636. The business has a 50 day simple moving average of $62.52 and a 200-day simple moving average of $71.20. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $86.31 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04.

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

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.74%. NIKE's dividend payout ratio (DPR) is presently 53.16%.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan acquired 8,600 shares of the business's stock in a transaction on Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares of the company's stock, valued at approximately $65,301,708.56. The trade was a 15.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Bank of America lowered their target price on NIKE from $90.00 to $80.00 and set a "buy" rating for the company in a report on Friday, April 25th. Needham & Company LLC lowered their target price on NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a report on Monday, March 17th. Robert W. Baird decreased their price objective on NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Stifel Nicolaus decreased their price objective on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Finally, Dbs Bank upgraded NIKE from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Seventeen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.48.

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.