Rule One Partners LLC Has $106,000 Stock Position in NIKE, Inc. $NKE

Rule One Partners LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 94.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,001 shares of the footwear maker’s stock after selling 35,000 shares during the quarter. NIKE comprises approximately 0.1% of Rule One Partners LLC’s holdings, making the stock its 9th largest position. Rule One Partners LLC’s holdings in NIKE were worth $106,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NKE. J. Stern & Co. LLP grew its stake in NIKE by 49,010.4% during the fourth quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock valued at $3,061,555,000 after acquiring an additional 47,956,692 shares in the last quarter. Norges Bank bought a new stake in NIKE in the 4th quarter valued at $829,956,000. Harris Associates L P purchased a new stake in NIKE in the 2nd quarter worth $621,525,000. Capital World Investors lifted its stake in NIKE by 16.2% in the 4th quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock worth $3,126,246,000 after purchasing an additional 6,830,938 shares in the last quarter. Finally, Jasper Ridge Partners L.P. lifted its stake in 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. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on NKE. UBS Group set a $48.00 price target on NIKE and gave the company a “neutral” rating in a report on Wednesday, July 1st. The Goldman Sachs Group cut their price target on shares of NIKE from $46.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, July 1st. Guggenheim reissued a “buy” rating and issued a $60.00 price objective (down from $74.00) on shares of NIKE in a research report on Wednesday, July 1st. Needham & Company LLC reissued a “hold” rating on shares of NIKE in a research note on Thursday, June 4th. Finally, Wells Fargo & Company decreased their price objective on shares of NIKE from $45.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $53.86.

NIKE Trading Up 0.9%

Shares of NKE opened at $42.07 on Tuesday. The firm has a market capitalization of $62.42 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 1.85 and a beta of 1.12. 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, Inc. has a 1-year low of $40.00 and a 1-year high of $80.17. The company has a 50-day moving average of $43.67 and a 200 day moving average of $50.89.

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

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were paid a $0.41 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 3.9%. NIKE’s dividend payout ratio is 78.47%.

Insider Buying and Selling

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction on Friday, June 12th. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64. Following the completion of the sale, the executive vice president directly owned 53,133 shares of the company’s stock, valued at $2,453,681.94. The trade was a 24.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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. 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).