NIKE, Inc. (NYSE:NKE) Shares Sold by Means Investment CO. Inc.

by · The Cerbat Gem

Means Investment CO. Inc. lowered its position in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 6.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,748 shares of the footwear maker’s stock after selling 1,379 shares during the period. Means Investment CO. Inc.’s holdings in NIKE were worth $1,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Longview Partners Guernsey LTD acquired a new stake in shares of NIKE in the first quarter valued at $533,533,000. Capital World Investors grew its stake in shares of NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after buying an additional 4,457,376 shares in the last quarter. Jennison Associates LLC grew its stake in shares of NIKE by 45.6% in the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after buying an additional 2,775,510 shares in the last quarter. PineStone Asset Management Inc. grew its stake in shares of NIKE by 138.3% in the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after buying an additional 1,576,049 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of NIKE by 351.7% in the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after buying an additional 1,550,611 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.50% of the stock is currently owned by insiders.

NIKE Stock Down 0.6 %

NKE opened at $82.92 on Friday. The business has a 50 day moving average price of $82.64 and a two-hundred day moving average price of $85.28. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The company has a market cap of $125.16 billion, a PE ratio of 22.23, a P/E/G ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39.

NIKE (NYSE:NKE – Get Free Report) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the previous year, the firm posted $0.94 EPS. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, research analysts anticipate that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Wall Street Analysts Forecast Growth

NKE has been the subject of several analyst reports. Oppenheimer reissued an “outperform” rating and set a $120.00 target price on shares of NIKE in a research note on Friday, June 28th. HSBC lowered their target price on NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Barclays lowered their target price on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Citigroup lowered their target price on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Finally, The Goldman Sachs Group lowered their target price on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average price target of $96.56.

Read Our Latest Report on NIKE

NIKE Company Profile

(Free Report)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.

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