Mariner LLC Cuts Stock Position in NIKE, Inc. $NKE

Mariner LLC lowered its holdings in NIKE, Inc. (NYSE:NKE) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,006,227 shares of the footwear maker’s stock after selling 18,881 shares during the period. Mariner LLC owned about 0.07% of NIKE worth $64,123,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in NKE. Norges Bank bought a new stake in shares of NIKE in the fourth quarter valued at $829,956,000. Harris Associates L P purchased a new position in NIKE during the second quarter worth about $621,525,000. Capital World Investors grew its position in NIKE by 16.2% during the fourth quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock worth $3,126,246,000 after buying an additional 6,830,938 shares in the last quarter. Jasper Ridge Partners L.P. boosted its holdings in shares of NIKE by 2,492.4% in the 4th quarter. Jasper Ridge Partners L.P. now owns 4,883,229 shares of the footwear maker’s stock worth $311,111,000 after purchasing an additional 4,694,859 shares in the last quarter. Finally, Capital International Investors boosted its holdings in shares of NIKE by 83.3% in the 4th quarter. Capital International Investors now owns 7,642,382 shares of the footwear maker’s stock worth $486,895,000 after purchasing an additional 3,472,515 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the sale, the executive vice president owned 53,133 shares in the company, valued at approximately $2,453,681.94. This trade represents a 24.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Elliott Hill bought 23,660 shares of the firm’s stock in a transaction dated Monday, April 13th. The stock was purchased at an average cost of $42.27 per share, with a total value of $1,000,108.20. Following the transaction, 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 position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 64,441 shares of company stock worth $2,734,204. Insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Robert W. Baird dropped their target price on NIKE from $85.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Zacks Research lowered shares of NIKE from a “hold” rating to a “strong sell” rating in a report on Monday, June 1st. BTIG Research cut their price target on shares of NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of NIKE in a report on Thursday, June 4th. Fifteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $60.89.

NIKE Trading Up 0.6%

NYSE NKE opened at $45.20 on Tuesday. NIKE, Inc. has a fifty-two week low of $41.35 and a fifty-two week high of $80.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. The stock has a 50 day simple moving average of $44.28 and a two-hundred day simple moving average of $55.27. The stock has a market cap of $66.94 billion, a P/E ratio of 29.94, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The business had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter last year, the business posted $0.54 EPS. The business’s revenue was up .1% on a year-over-year basis. On average, analysts forecast that NIKE, Inc. will post 1.49 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders 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 dividend payout ratio (DPR) is 108.61%.

NIKE 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).