Sumitomo Mitsui Trust Holdings Inc. Sells 25,578 Shares of NIKE, Inc. (NYSE:NKE)

Sumitomo Mitsui Trust Holdings Inc. cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 0.8% in the first quarter, HoldingsChannel reports. The fund owned 3,219,896 shares of the footwear maker’s stock after selling 25,578 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in NIKE were worth $302,606,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Capital International Investors grew its stake in shares of NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after acquiring an additional 7,143,775 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after purchasing an additional 7,996,434 shares in the last quarter. Norges Bank purchased a new position in NIKE in the 4th quarter worth approximately $1,315,097,000. Fisher Asset Management LLC lifted its holdings in NIKE by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock worth $1,073,515,000 after purchasing an additional 219,091 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in NIKE by 18.3% in the 3rd quarter. American Century Companies Inc. now owns 5,620,466 shares of the footwear maker’s stock worth $537,429,000 after purchasing an additional 870,423 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Insiders have sold 213,660 shares of company stock valued at $19,946,333 in the last quarter. 0.50% of the stock is owned by insiders.

NIKE Stock Performance

Shares of NIKE stock opened at $75.27 on Thursday. The stock’s fifty day moving average is $92.58 and its two-hundred day moving average is $98.22. The company has a market capitalization of $113.61 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 1.85 and a beta of 1.01. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a 52 week low of $74.29 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 EPS. As a group, analysts expect that NIKE, Inc. will post 3.32 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.97%. The ex-dividend date was Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Analysts Set New Price Targets

NKE has been the topic of a number of research analyst reports. Williams Trading reissued a “sell” rating and issued a $85.00 price target (down from $92.00) on shares of NIKE in a report on Monday, March 18th. Morgan Stanley reissued an “equal weight” rating and issued a $79.00 price target (down from $114.00) on shares of NIKE in a report on Friday, June 28th. Telsey Advisory Group lowered their price target on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Guggenheim lowered their price target on NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, Jefferies Financial Group decreased their price objective on NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, NIKE has an average rating of “Hold” and an average price target of $97.19.

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.