NIKE, Inc. $NKE Stock Position Reduced by Becker Capital Management Inc.

Becker Capital Management Inc. lessened its stake in NIKE, Inc. (NYSE:NKE) by 35.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 276,109 shares of the footwear maker’s stock after selling 153,979 shares during the quarter. Becker Capital Management Inc.’s holdings in NIKE were worth $19,726,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. BNP Paribas grew its holdings in shares of NIKE by 7.6% during the 2nd quarter. BNP Paribas now owns 40,341 shares of the footwear maker’s stock valued at $2,870,000 after acquiring an additional 2,864 shares in the last quarter. EDENTREE ASSET MANAGEMENT Ltd boosted its position in NIKE by 24.0% during the second quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 170,558 shares of the footwear maker’s stock valued at $12,111,000 after purchasing an additional 33,000 shares during the last quarter. NewEdge Advisors LLC boosted its position in NIKE by 0.3% during the second quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock valued at $4,558,000 after purchasing an additional 197 shares during the last quarter. Dymon Asia Capital Singapore PTE. LTD. grew its stake in NIKE by 83.6% in the second quarter. Dymon Asia Capital Singapore PTE. LTD. now owns 11,931 shares of the footwear maker’s stock valued at $848,000 after purchasing an additional 5,431 shares in the last quarter. Finally, BCS Private Wealth Management Inc. acquired a new position in NIKE in the 2nd quarter worth about $371,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

NKE has been the subject of several research reports. JPMorgan Chase & Co. reduced their price target on NIKE from $100.00 to $86.00 and set a “buy” rating for the company in a report on Monday, November 17th. Jefferies Financial Group reaffirmed a “buy” rating and set a $115.00 price objective on shares of NIKE in a research report on Monday, September 29th. Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, September 10th. BTIG Research started coverage on shares of NIKE in a research note on Tuesday, October 14th. They set a “buy” rating and a $100.00 price target on the stock. Finally, DZ Bank upgraded shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.10.

NIKE Price Performance

Shares of NYSE:NKE opened at $65.79 on Thursday. The company has a market cap of $97.26 billion, a price-to-earnings ratio of 33.74, a PEG ratio of 2.23 and a beta of 1.29. The business has a 50 day moving average price of $65.63 and a 200 day moving average price of $69.23. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44.

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

NIKE Increases Dividend

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

About NIKE

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.