Swiss National Bank Sells 136,900 Shares of NIKE, Inc. $NKE

Swiss National Bank lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 4.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,259,100 shares of the footwear maker’s stock after selling 136,900 shares during the period. Swiss National Bank’s holdings in NIKE were worth $207,637,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NKE. Brighton Jones LLC grew its stake in shares of NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after buying an additional 160,980 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of NIKE during the first quarter worth $311,000. United Bank grew its stake in shares of NIKE by 11.3% during the second quarter. United Bank now owns 17,067 shares of the footwear maker’s stock worth $1,212,000 after buying an additional 1,736 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of NIKE by 0.3% during the second quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock worth $4,558,000 after buying an additional 197 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of NIKE by 6.5% during the second quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock worth $13,588,000 after buying an additional 11,646 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Citigroup decreased their target price on shares of NIKE from $53.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday. Weiss Ratings lowered shares of NIKE from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday. UBS Group set a $50.00 price target on shares of NIKE and gave the stock a “neutral” rating in a report on Wednesday. Williams Trading cut their price target on shares of NIKE from $80.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Finally, HSBC lowered shares of NIKE from a “buy” rating to a “hold” rating and cut their price target for the stock from $90.00 to $48.00 in a report on Monday, April 13th. Fifteen equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Hold” and an average price target of $60.89.

NIKE Price Performance

Shares of NYSE:NKE opened at $45.91 on Friday. The firm has a market cap of $67.99 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 1.90 and a beta of 1.12. The firm’s fifty day moving average is $44.26 and its 200-day moving average is $55.52. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. NIKE, Inc. has a 52 week low of $41.35 and a 52 week high of $80.17.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The company had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. NIKE’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 earnings per share. Sell-side analysts predict that NIKE, Inc. will post 1.49 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.41 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 3.6%. NIKE’s payout ratio is presently 108.61%.

Insider Activity

In other news, CEO Elliott Hill bought 23,660 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The shares were acquired at an average price of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the acquisition, the chief executive officer directly owned 265,247 shares in the company, valued at approximately $11,211,990.69. This represents a 9.79% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Timothy D. Cook bought 25,000 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The stock was purchased at an average price of $42.43 per share, for a total transaction of $1,060,750.00. Following the acquisition, the director owned 130,480 shares of the company’s stock, valued at $5,536,266.40. This trade represents a 23.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 64,441 shares of company stock worth $2,734,204 in the last three months. Corporate insiders own 0.80% of the company’s stock.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE should get an attention boost from the World Cup, which gives the company a high-profile stage to promote its brand and compete more directly with Adidas. Nike’s World Cup play: take on Adidas and revitalize the brand
• Neutral Sentiment: Recent valuation commentary suggests the stock has had mixed performance, with short-term gains offset by weakness over the longer term, keeping investor sentiment cautious. A Look At Nike (NKE) Valuation As Recent Share Performance Remains Mixed
• Negative Sentiment: RBC Capital downgraded NIKE to Sector Perform/Hold and cut its price target, saying the company’s turnaround is taking longer than expected and near-term catalysts look limited. Nike Could Get a World Cup Boost. But Stay Behind the Touchline, Analysts Say.
• Negative Sentiment: Citigroup also lowered its price target on NIKE and kept a neutral view, adding to concerns about margins, brand reset progress, and the credibility of management’s financial targets. Citigroup adjusts Nike’s PT to 47 from 53, maintains Neutral rating
• Negative Sentiment: Commentary from analysts and media outlets echoed the same theme: NIKE’s operational turnaround and brand reset are progressing more slowly than hoped, keeping pressure on the shares. Analyst Downgrade Puts Nike Turnaround Pace And Profit Goals In Focus

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).