Bleakley Financial Group LLC Decreases Stake in NIKE, Inc. (NYSE:NKE)

Bleakley Financial Group LLC cut its position in NIKE, Inc. (NYSE:NKE) by 18.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,393 shares of the footwear maker’s stock after selling 3,815 shares during the period. Bleakley Financial Group LLC’s holdings in NIKE were worth $1,449,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Longview Partners Guernsey LTD purchased a new position in NIKE in the first quarter valued at $533,533,000. Capital World Investors increased its holdings in shares of NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after acquiring an additional 4,457,376 shares during the last quarter. Jennison Associates LLC raised its position in shares of NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after acquiring an additional 2,775,510 shares in the last quarter. PineStone Asset Management Inc. lifted its stake in NIKE by 138.3% during the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock worth $204,681,000 after purchasing an additional 1,576,049 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in NIKE by 351.7% in the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after purchasing an additional 1,550,611 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NKE. JPMorgan Chase & Co. cut their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Oppenheimer restated an “outperform” rating and issued a $120.00 price objective on shares of NIKE in a research note on Friday, June 28th. Robert W. Baird upped their price objective on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Wedbush decreased their price objective on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Finally, Evercore ISI decreased their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average price target of $96.56.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.50% of the company’s stock.

NIKE Trading Down 0.6 %

Shares of NIKE stock opened at $82.92 on Friday. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The company’s 50-day simple moving average is $82.64 and its 200-day simple moving average is $85.28. The firm has a market cap of $125.16 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the business posted $0.94 earnings per share. The business’s revenue was down 10.4% compared to the same quarter last year. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.8 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. NIKE’s dividend payout ratio (DPR) is 39.68%.

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.