NIKE, Inc. $NKE Shares Sold by DJE Kapital AG

DJE Kapital AG cut its holdings in NIKE, Inc. (NYSE:NKE) by 39.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 357,934 shares of the footwear maker’s stock after selling 236,262 shares during the quarter. DJE Kapital AG’s holdings in NIKE were worth $18,725,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in NKE. Main Street Financial Solutions LLC raised its stake in NIKE by 4.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after acquiring an additional 139 shares during the last quarter. Diligent Investors LLC lifted its position in NIKE by 4.3% during the 4th quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock worth $237,000 after acquiring an additional 153 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of NIKE by 4.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock valued at $253,000 after purchasing an additional 163 shares during the last quarter. Lakeshore Capital Group Inc. grew its stake in shares of NIKE by 2.9% in the 4th quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker’s stock valued at $374,000 after purchasing an additional 165 shares during the last quarter. Finally, ANB Bank grew its stake in shares of NIKE by 0.7% in the 4th quarter. ANB Bank now owns 25,451 shares of the footwear maker’s stock valued at $1,621,000 after purchasing an additional 165 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NKE has been the subject of several analyst reports. DA Davidson cut NIKE from a “buy” rating to a “neutral” rating and cut their price target for the stock from $72.00 to $46.00 in a research note on Thursday, April 2nd. Stifel Nicolaus set a $45.00 price objective on shares of NIKE and gave the company a “hold” rating in a research report on Wednesday, July 1st. Berenberg Bank set a $49.00 price objective on shares of NIKE in a research note on Friday, July 3rd. China Renaissance dropped their price objective on shares of NIKE from $74.60 to $50.30 and set a “hold” rating on the stock in a research note on Thursday, April 2nd. Finally, The Goldman Sachs Group cut their price objective on shares of NIKE from $46.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $54.80.

NIKE Trading Down 0.8%

Shares of NKE stock opened at $43.43 on Tuesday. The business’s fifty day moving average price is $43.69 and its 200 day moving average price is $51.66. NIKE, Inc. has a 1-year low of $40.00 and a 1-year high of $80.17. The firm has a market capitalization of $64.31 billion, a PE ratio of 20.78, a P/E/G ratio of 2.53 and a beta of 1.12. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.NIKE’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 earnings per share. As a group, sell-side analysts forecast that NIKE, Inc. will post 1.75 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Monday, June 1st. NIKE’s dividend payout ratio (DPR) is currently 78.47%.

Insider Activity at NIKE

In related news, EVP Philip Mccartney sold 17,398 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the sale, the executive vice president owned 53,133 shares in the company, valued at $2,453,681.94. This trade represents a 24.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.10% of the stock is owned by company insiders.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).