BlackRock Inc. Sells 4,725,845 Shares of NIKE, Inc. (NYSE:NKE)

BlackRock Inc. cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 89,911,057 shares of the footwear maker’s stock after selling 4,725,845 shares during the period. BlackRock Inc. owned about 0.06% of NIKE worth $13,890,362,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NKE. FFT Wealth Management LLC bought a new stake in shares of NIKE during the second quarter valued at about $26,000. Princeton Global Asset Management LLC increased its position in shares of NIKE by 39.8% during the second quarter. Princeton Global Asset Management LLC now owns 246 shares of the footwear maker’s stock valued at $38,000 after buying an additional 70 shares during the period. Rockbridge Investment Management LCC increased its position in shares of NIKE by 43.9% during the second quarter. Rockbridge Investment Management LCC now owns 246 shares of the footwear maker’s stock valued at $38,000 after buying an additional 75 shares during the period. Baldrige Asset Management LLC bought a new stake in shares of NIKE during the second quarter valued at about $41,000. Finally, Geo Capital Gestora de Recursos Ltd increased its position in shares of NIKE by 128.4% during the first quarter. Geo Capital Gestora de Recursos Ltd now owns 370 shares of the footwear maker’s stock valued at $49,000 after buying an additional 208 shares during the period. Hedge funds and other institutional investors own 64.45% of the company’s stock.

Shares of NIKE stock traded down $1.60 during midday trading on Monday, reaching $154.82. 187,054 shares of the company’s stock traded hands, compared to its average volume of 6,258,260. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.01 and a current ratio of 2.72. The company has a market cap of $244.89 billion, a PE ratio of 42.99, a price-to-earnings-growth ratio of 2.49 and a beta of 0.87. The stock has a 50 day moving average of $165.57 and a 200-day moving average of $147.08. NIKE, Inc. has a 12 month low of $111.74 and a 12 month high of $174.38.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Wednesday, June 23rd. The footwear maker reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.42. The business had revenue of $12.30 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 51.41% and a net margin of 12.86%. The firm’s quarterly revenue was up 94.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.51) earnings per share. On average, equities analysts anticipate that NIKE, Inc. will post 4.3 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Monday, August 30th will be issued a $0.275 dividend. The ex-dividend date is Friday, August 27th. This represents a $1.10 dividend on an annualized basis and a yield of 0.71%. NIKE’s dividend payout ratio (DPR) is 30.90%.

In other news, COO Andrew Campion sold 7,125 shares of the firm’s stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $171.50, for a total transaction of $1,221,937.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Chris L. Abston sold 16,500 shares of the firm’s stock in a transaction on Friday, June 25th. The shares were sold at an average price of $152.00, for a total value of $2,508,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 379,671 shares of company stock valued at $60,634,427. 3.70% of the stock is owned by corporate insiders.

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut their price objective on NIKE from $179.00 to $171.00 and set a “buy” rating for the company in a report on Monday. Cowen boosted their price objective on NIKE from $145.00 to $181.00 and gave the stock an “outperform” rating in a report on Friday, June 25th. They noted that the move was a valuation call. Argus boosted their price objective on NIKE from $174.00 to $182.00 and gave the stock a “buy” rating in a report on Wednesday, July 14th. Royal Bank of Canada boosted their price objective on NIKE from $165.00 to $183.00 and gave the stock an “outperform” rating in a report on Friday, June 25th. Finally, Robert W. Baird boosted their price objective on NIKE from $150.00 to $192.00 and gave the stock an “outperform” rating in a report on Friday, June 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $173.03.

NIKE Profile

NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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