Pictet & Cie Europe SA Cuts Stake in Nike Inc (NKE)

Pictet & Cie Europe SA cut its position in Nike Inc (NYSE:NKE) by 3.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 322,360 shares of the footwear maker’s stock after selling 12,060 shares during the period. Nike makes up 2.4% of Pictet & Cie Europe SA’s holdings, making the stock its 12th largest position. Pictet & Cie Europe SA’s holdings in Nike were worth $16,714,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in NKE. Janus Henderson Group PLC grew its holdings in Nike by 4,252.6% during the second quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock worth $980,539,000 after acquiring an additional 16,237,557 shares during the period. Capital World Investors grew its holdings in Nike by 58.7% during the second quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock worth $1,284,985,000 after acquiring an additional 8,058,601 shares during the period. Orbis Allan Gray Ltd acquired a new stake in Nike during the second quarter worth about $226,588,000. Alliancebernstein L.P. grew its holdings in Nike by 25.5% during the second quarter. Alliancebernstein L.P. now owns 14,927,619 shares of the footwear maker’s stock worth $880,730,000 after acquiring an additional 3,033,280 shares during the period. Finally, Flossbach Von Storch AG grew its holdings in Nike by 141.9% during the second quarter. Flossbach Von Storch AG now owns 4,669,950 shares of the footwear maker’s stock worth $275,527,000 after acquiring an additional 2,739,500 shares during the period. 62.67% of the stock is currently owned by institutional investors and hedge funds.

In related news, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $65.00, for a total transaction of $8,775,000.00. Following the transaction, the chairman now owns 1,502,830 shares in the company, valued at $97,683,950. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Monique S. Matheson sold 10,000 shares of Nike stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $65.00, for a total value of $650,000.00. Following the transaction, the executive vice president now owns 23,248 shares in the company, valued at approximately $1,511,120. The disclosure for this sale can be found here. In the last 90 days, insiders sold 967,896 shares of company stock worth $60,257,267. Company insiders own 3.90% of the company’s stock.

Several analysts recently commented on the company. B. Riley reaffirmed a “neutral” rating on shares of Nike in a report on Wednesday, November 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 target price on shares of Nike in a report on Friday, December 22nd. JPMorgan Chase & Co. set a $58.00 target price on Nike and gave the stock a “neutral” rating in a report on Tuesday. Macquarie set a $72.00 price objective on Nike and gave the company a “buy” rating in a report on Thursday, December 28th. Finally, Jefferies Group set a $59.00 price objective on Nike and gave the company a “neutral” rating in a report on Thursday, December 28th. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $64.06.

Nike Inc (NKE) opened at $63.44 on Friday. The firm has a market capitalization of $103,500.00, a P/E ratio of 27.46, a PEG ratio of 2.88 and a beta of 0.64. Nike Inc has a 1 year low of $50.35 and a 1 year high of $65.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67.

Nike (NYSE:NKE) last released its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.06. The business had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.39 billion. Nike had a return on equity of 31.64% and a net margin of 11.13%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 earnings per share. sell-side analysts expect that Nike Inc will post 2.25 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Friday, December 1st. This is an increase from Nike’s previous quarterly dividend of $0.18. Nike’s dividend payout ratio (DPR) is 34.63%.

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Nike Profile

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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