NN Investment Partners Holdings N.V. decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 14.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 311,286 shares of the footwear maker’s stock after selling 52,047 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in NIKE were worth $41,367,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of NKE. Norges Bank bought a new stake in NIKE during the fourth quarter valued at about $1,903,194,000. Jennison Associates LLC boosted its position in NIKE by 30.8% during the fourth quarter. Jennison Associates LLC now owns 20,446,063 shares of the footwear maker’s stock valued at $2,892,505,000 after purchasing an additional 4,812,150 shares in the last quarter. Morgan Stanley boosted its position in NIKE by 31.3% during the fourth quarter. Morgan Stanley now owns 19,496,387 shares of the footwear maker’s stock valued at $2,758,153,000 after purchasing an additional 4,643,842 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in NIKE by 18.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,300,888 shares of the footwear maker’s stock valued at $4,142,170,000 after buying an additional 4,468,961 shares during the last quarter. Finally, WCM Investment Management LLC purchased a new stake in NIKE in the fourth quarter valued at about $257,241,000. 64.20% of the stock is currently owned by institutional investors and hedge funds.
NIKE stock traded down $2.00 during trading on Tuesday, reaching $131.03. 230,766 shares of the company were exchanged, compared to its average volume of 6,459,695. NIKE, Inc. has a 52-week low of $84.11 and a 52-week high of $147.95. The company has a market capitalization of $207.02 billion, a P/E ratio of 75.00, a PEG ratio of 2.51 and a beta of 0.83. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.66 and a quick ratio of 1.97. The stock’s 50 day simple moving average is $134.38 and its two-hundred day simple moving average is $135.89.
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Monday, March 1st were given a $0.275 dividend. The ex-dividend date of this dividend was Friday, February 26th. This represents a $1.10 dividend on an annualized basis and a yield of 0.84%. NIKE’s dividend payout ratio is currently 59.46%.
NKE has been the subject of a number of research analyst reports. DZ Bank reiterated a “sell” rating on shares of NIKE in a research note on Friday, April 23rd. Jefferies Financial Group set a $140.00 price target on NIKE and gave the company a “neutral” rating in a research note on Monday, January 4th. Citigroup cut NIKE from a “buy” rating to a “neutral” rating and increased their price target for the company from $140.00 to $160.00 in a research note on Tuesday, April 20th. Barclays restated a “buy” rating and issued a $174.00 price objective on shares of NIKE in a research note on Friday, March 19th. Finally, Morgan Stanley reduced their price objective on NIKE from $176.00 to $173.00 and set an “overweight” rating for the company in a research note on Wednesday, March 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirty have given a buy rating to the company. NIKE presently has a consensus rating of “Buy” and a consensus price target of $159.83.
In other NIKE news, CAO Hilary K. Krane sold 15,000 shares of NIKE stock in a transaction on Wednesday, April 14th. The stock was sold at an average price of $133.54, for a total value of $2,003,100.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Peter B. Henry sold 3,388 shares of NIKE stock in a transaction on Tuesday, April 20th. The shares were sold at an average price of $127.03, for a total value of $430,377.64. Following the completion of the sale, the director now owns 2,282 shares in the company, valued at approximately $289,882.46. The disclosure for this sale can be found here. Insiders sold 132,482 shares of company stock worth $17,342,141 in the last 90 days. Company insiders own 3.80% of the company’s stock.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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