UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $651.22 Million Position in NIKE, Inc. $NKE

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lessened its position in NIKE, Inc. (NYSE:NKE) by 0.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,258,731 shares of the footwear maker’s stock after selling 35,204 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.69% of NIKE worth $651,224,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NKE. Spire Wealth Management boosted its holdings in shares of NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after buying an additional 416 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its stake in NIKE by 0.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after purchasing an additional 5,601 shares in the last quarter. OMERS ADMINISTRATION Corp raised its stake in NIKE by 20.2% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 52,370 shares of the footwear maker’s stock worth $3,963,000 after purchasing an additional 8,792 shares in the last quarter. Mackenzie Financial Corp raised its stake in NIKE by 75.1% in the 4th quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker’s stock worth $40,835,000 after purchasing an additional 231,417 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in NIKE in the 1st quarter worth about $25,963,000. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $64.00 to $93.00 in a research report on Monday, July 28th. Morgan Stanley upped their price objective on shares of NIKE from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, June 27th. Wall Street Zen upgraded shares of NIKE from a “sell” rating to a “hold” rating in a research report on Saturday. UBS Group assumed coverage on shares of NIKE in a research report on Sunday, July 6th. They set a “buy” rating for the company. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $70.00 price objective on shares of NIKE in a research report on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.22.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares of the company’s stock, valued at $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.80% of the stock is owned by corporate insiders.

NIKE Stock Down 0.7%

NKE opened at $73.60 on Wednesday. The company has a 50 day moving average of $75.54 and a 200 day moving average of $67.87. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The company has a market cap of $108.70 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same period last year, the business earned $0.99 earnings per share. NIKE’s revenue was down 11.9% compared to the same quarter last year. On average, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is currently 74.07%.

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.