DekaBank Deutsche Girozentrale Reduces Stock Position in NIKE, Inc. $NKE

DekaBank Deutsche Girozentrale lessened its position in NIKE, Inc. (NYSE:NKE) by 0.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 703,082 shares of the footwear maker’s stock after selling 1,853 shares during the period. DekaBank Deutsche Girozentrale’s holdings in NIKE were worth $50,594,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in NIKE by 1.0% during the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock valued at $1,007,000 after purchasing an additional 134 shares during the period. Caldwell Sutter Capital Inc. grew its position in shares of NIKE by 6.3% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock worth $170,000 after buying an additional 142 shares during the last quarter. Salomon & Ludwin LLC increased its stake in shares of NIKE by 10.1% during the second quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock valued at $120,000 after buying an additional 145 shares during the period. Westmount Partners LLC raised its holdings in shares of NIKE by 2.9% during the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock valued at $367,000 after acquiring an additional 146 shares in the last quarter. Finally, HB Wealth Management LLC raised its holdings in shares of NIKE by 0.3% during the second quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock valued at $3,695,000 after acquiring an additional 147 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NKE has been the topic of several recent analyst reports. Argus upgraded shares of NIKE to a “buy” rating in a report on Sunday, July 6th. Evercore ISI cut their target price on shares of NIKE from $97.00 to $75.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 24th. Barclays set a $70.00 price target on shares of NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. TD Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating and raised their price objective for the stock from $62.00 to $85.00 in a report on Wednesday, September 10th. Finally, KeyCorp set a $90.00 target price on NIKE and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.21.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $68.39 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The stock has a market cap of $101.09 billion, a P/E ratio of 35.07, a P/E/G ratio of 2.49 and a beta of 1.29. The business’s 50 day moving average price is $72.84 and its 200-day moving average price is $67.56. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter last year, the company earned $0.70 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s payout ratio is currently 82.05%.

NIKE Company 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.