OVERSEA CHINESE BANKING Corp Ltd Decreases Stock Holdings in NIKE, Inc. $NKE

OVERSEA CHINESE BANKING Corp Ltd lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 34.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,013 shares of the footwear maker’s stock after selling 11,171 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in NIKE were worth $1,493,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Delta Investment Management LLC lifted its holdings in NIKE by 5.0% during the 2nd quarter. Delta Investment Management LLC now owns 3,771 shares of the footwear maker’s stock worth $268,000 after buying an additional 180 shares during the last quarter. Bolthouse Investments LLC raised its position in shares of NIKE by 37.3% during the 2nd quarter. Bolthouse Investments LLC now owns 10,737 shares of the footwear maker’s stock worth $763,000 after acquiring an additional 2,917 shares in the last quarter. Chilton Capital Management LLC lifted its stake in NIKE by 65.4% during the second quarter. Chilton Capital Management LLC now owns 979 shares of the footwear maker’s stock worth $70,000 after purchasing an additional 387 shares during the last quarter. Resonant Capital Advisors LLC boosted its holdings in NIKE by 29.7% in the second quarter. Resonant Capital Advisors LLC now owns 4,998 shares of the footwear maker’s stock valued at $357,000 after purchasing an additional 1,144 shares in the last quarter. Finally, Wealthfront Advisers LLC boosted its holdings in NIKE by 5.0% in the second quarter. Wealthfront Advisers LLC now owns 123,321 shares of the footwear maker’s stock valued at $8,761,000 after purchasing an additional 5,921 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman owned 744,988 shares in the company, 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 Securities & Exchange Commission, which is available at this link. 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 transaction, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. The trade was a 12.76% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.

NIKE Price Performance

NIKE stock opened at $68.51 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The business has a 50 day simple moving average of $72.20 and a 200-day simple moving average of $68.01. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44. The stock has a market capitalization of $101.26 billion, a PE ratio of 35.13, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29.

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

NIKE Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Jefferies Financial Group restated a “buy” rating and set a $115.00 price objective on shares of NIKE in a research report on Monday, September 29th. Argus upgraded shares of NIKE to a “buy” rating in a research note on Sunday, July 6th. DZ Bank raised NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, October 1st. JPMorgan Chase & Co. boosted their target price on NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 1st. Finally, Zacks Research upgraded NIKE from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

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.