Mitsubishi UFJ Trust & Banking Corp Sells 139,896 Shares of NIKE, Inc. $NKE

Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 22.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 486,067 shares of the footwear maker’s stock after selling 139,896 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in NIKE were worth $19,953,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in NKE. Scarborough Advisors LLC bought a new position in NIKE during the 1st quarter worth about $25,000. Cornerstone Financial Management LLC bought a new stake in shares of NIKE in the 4th quarter valued at about $26,000. Sankala Group LLC bought a new stake in shares of NIKE in the 4th quarter valued at about $26,000. J.Safra Asset Management Corp purchased a new stake in shares of NIKE in the 4th quarter worth approximately $29,000. Finally, Meeder Asset Management Inc. lifted its position in shares of NIKE by 108.4% in the 1st quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock worth $29,000 after purchasing an additional 285 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on NKE shares. Telsey Advisory Group set a $47.00 price objective on shares of NIKE and gave the company a “market perform” rating in a research note on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of NIKE from $43.00 to $45.00 and gave the stock a “hold” rating in a research note on Friday, July 17th. The Goldman Sachs Group lowered their target price on NIKE from $46.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. Bank of America dropped their target price on NIKE from $55.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 1st. Finally, Barclays cut their price target on NIKE from $67.00 to $52.00 and set an “overweight” rating on the stock in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $53.53.

NIKE Stock Down 1.2%

Shares of NKE stock opened at $40.73 on Friday. The stock’s fifty day moving average price is $42.90 and its 200 day moving average price is $48.73. NIKE, Inc. has a 1-year low of $40.00 and a 1-year high of $80.17. The company has a market cap of $60.42 billion, a price-to-earnings ratio of 19.49, a price-to-earnings-growth ratio of 1.81 and a beta of 1.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The company had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The firm’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the business posted $0.14 earnings per share. On average, research analysts expect that NIKE, Inc. will post 1.74 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.41 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 annualized dividend and a dividend yield of 4.0%. NIKE’s dividend payout ratio is 78.47%.

Insider Activity at NIKE

In other NIKE news, insider Amy Montagne sold 4,867 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $42.05, for a total transaction of $204,657.35. Following the sale, the insider owned 57,436 shares of the company’s stock, valued at approximately $2,415,183.80. The trade was a 7.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Philip Mccartney sold 17,398 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $46.18, for a total transaction of $803,439.64. Following the transaction, the executive vice president owned 53,133 shares in the company, valued at $2,453,681.94. The trade was a 24.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last three months, insiders have sold 26,142 shares of company stock worth $1,169,380. 1.10% of the stock is owned by insiders.

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).