NIKE, Inc. (NYSE:NKE) Shares Sold by Fullerton Fund Management Co Ltd.

Fullerton Fund Management Co Ltd. trimmed its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 41.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 240,753 shares of the footwear maker's stock after selling 170,454 shares during the quarter. Fullerton Fund Management Co Ltd.'s holdings in NIKE were worth $18,218,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NKE. Norges Bank acquired a new position in NIKE in the 4th quarter valued at about $1,126,288,000. Wellington Management Group LLP grew its stake in shares of NIKE by 32.4% in the 4th 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. increased its holdings in shares of NIKE by 6,029.6% in 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 period. Bank of New York Mellon Corp raised its stake 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 worth $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 worth $196,901,000 after purchasing an additional 2,416,601 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NKE has been the topic of several recent research reports. China Renaissance began coverage on shares of NIKE in a research note on Wednesday, March 19th. They issued a "hold" rating on the stock. Royal Bank of Canada cut their price target on shares of NIKE from $67.00 to $66.00 and set a "sector perform" rating for the company in a report on Friday, March 21st. Morgan Stanley reduced their price objective on shares of NIKE from $72.00 to $70.00 and set an "equal weight" rating for the company in a research report on Friday, March 21st. JPMorgan Chase & Co. dropped their target price 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, Citigroup reduced their price target on NIKE from $72.00 to $57.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Seventeen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, NIKE has a consensus rating of "Moderate Buy" and an average price target of $80.48.

NIKE Price Performance

NYSE:NKE opened at $58.35 on Friday. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $98.04. The company's 50-day moving average is $62.52 and its two-hundred day moving average is $71.31. The firm has a market cap of $86.31 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. 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 (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period last year, the company earned $0.98 EPS. The firm's quarterly revenue was down 9.1% on a year-over-year basis. Research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently declared 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. This represents a $1.60 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio (DPR) is presently 53.16%.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan purchased 8,600 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now directly owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. This represents a 36.78 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, 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.

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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