Assenagon Asset Management S.A. Decreases Stake in NIKE, Inc. (NYSE:NKE)

Assenagon Asset Management S.A. cut its position in shares of NIKE, Inc. (NYSE:NKE) by 25.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 657,522 shares of the footwear maker’s stock after selling 227,657 shares during the period. Assenagon Asset Management S.A.’s holdings in NIKE were worth $58,125,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NKE. Brookstone Capital Management lifted its position in NIKE by 17.7% during the first quarter. Brookstone Capital Management now owns 64,524 shares of the footwear maker’s stock valued at $6,064,000 after purchasing an additional 9,694 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of NIKE by 4.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 256,565 shares of the footwear maker’s stock valued at $24,112,000 after acquiring an additional 11,765 shares during the last quarter. Cypress Wealth Services LLC purchased a new position in NIKE in the first quarter worth about $203,000. Register Financial Advisors LLC bought a new stake in NIKE during the first quarter worth approximately $66,000. Finally, Sawyer & Company Inc raised its position in NIKE by 0.7% during the first quarter. Sawyer & Company Inc now owns 44,506 shares of the footwear maker’s stock valued at $4,183,000 after purchasing an additional 313 shares during the period. Institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on NKE. Evercore ISI dropped their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Raymond James reiterated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Jefferies Financial Group raised their target price on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Oppenheimer reiterated an “outperform” rating and set a $120.00 price target on shares of NIKE in a report on Friday, June 28th. Finally, TD Cowen raised their price objective on shares of NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average target price of $96.56.

NIKE Trading Down 1.2 %

Shares of NYSE NKE opened at $79.05 on Friday. The stock has a market capitalization of $118.52 billion, a P/E ratio of 22.65, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The business has a fifty day moving average price of $82.86 and a 200 day moving average price of $85.10. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s revenue was down 10.4% compared to the same quarter last year. During the same period last year, the business earned $0.94 EPS. Equities research analysts expect that NIKE, Inc. will post 2.78 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Tuesday, September 3rd. NIKE’s payout ratio is presently 42.41%.

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.