1832 Asset Management L.P. Sells 20,755 Shares of NIKE, Inc. $NKE

1832 Asset Management L.P. lowered its holdings in NIKE, Inc. (NYSE:NKE) by 1.7% in the 2nd quarter, Holdings Channel reports. The firm owned 1,218,296 shares of the footwear maker’s stock after selling 20,755 shares during the period. 1832 Asset Management L.P.’s holdings in NIKE were worth $86,548,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Stone House Investment Management LLC purchased a new position in NIKE in the 1st quarter worth about $25,000. Mascoma Wealth Management LLC bought a new stake in shares of NIKE in the second quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC raised its holdings in shares of NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 362 shares during the last quarter. Saudi Central Bank purchased a new position in shares of NIKE during the first quarter valued at approximately $30,000. Finally, Matrix Trust Co lifted its position in NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In other NIKE news, Director Jorgen Vig Knudstorp bought 16,150 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was purchased at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the transaction, the director owned 21,388 shares of the company’s stock, valued at $1,327,980.92. This trade represents a 308.32% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.80% of the company’s stock.

NIKE Price Performance

Shares of NYSE:NKE opened at $65.65 on Thursday. The company has a market capitalization of $97.05 billion, a P/E ratio of 33.67, a P/E/G ratio of 2.32 and a beta of 1.29. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44. The firm’s 50 day simple moving average is $66.18 and its two-hundred day simple moving average is $69.10. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same period last year, the firm earned $0.70 EPS. The company’s revenue was up 1.0% on a year-over-year basis. Research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.5%. This is a positive change from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, December 1st. NIKE’s dividend payout ratio is currently 84.10%.

Analysts Set New Price Targets

A number of research firms have commented on NKE. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $90.00 target price on shares of NIKE in a research report on Monday, October 13th. JPMorgan Chase & Co. lowered their price target on NIKE from $100.00 to $86.00 and set a “buy” rating on the stock in a report on Monday, November 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $78.00 price objective on shares of NIKE in a report on Wednesday, October 1st. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Finally, Stifel Nicolaus set a $68.00 target price on NIKE and gave the company a “hold” rating in a report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $82.24.

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.