Level Four Advisory Services LLC reduced its stake in shares of Nike, Inc. (NYSE:NKE) by 34.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 6,822 shares of the footwear maker’s stock after selling 3,516 shares during the period. Level Four Advisory Services LLC’s holdings in Nike were worth $375,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC boosted its position in Nike by 124.7% in the first quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock valued at $1,401,251,000 after buying an additional 13,953,567 shares during the period. OppenheimerFunds Inc. boosted its position in Nike by 7,020.1% in the first quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock valued at $298,145,000 after buying an additional 5,274,656 shares during the period. Wellington Management Group LLP boosted its position in Nike by 5.0% in the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock valued at $2,781,332,000 after buying an additional 2,375,447 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in Nike during the first quarter valued at about $122,886,000. Finally, Pioneer Investment Management Inc. boosted its position in Nike by 108.4% in the first quarter. Pioneer Investment Management Inc. now owns 3,157,306 shares of the footwear maker’s stock valued at $175,956,000 after buying an additional 1,642,177 shares during the period. 64.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of Nike, Inc. (NYSE NKE) traded down 0.025% during mid-day trading on Friday, reaching $59.055. 2,040,106 shares of the company’s stock traded hands. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.53. The company’s 50-day moving average price is $57.77 and its 200-day moving average price is $55.57. The stock has a market capitalization of $97.04 billion, a PE ratio of 23.528 and a beta of 0.59.
Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.10. Nike had a net margin of 12.34% and a return on equity of 34.18%. The company had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. During the same quarter in the prior year, the company earned $0.49 EPS. Nike’s revenue was up 5.3% compared to the same quarter last year. Analysts anticipate that Nike, Inc. will post $2.42 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.22%. Nike’s dividend payout ratio (DPR) is 28.69%.
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NKE has been the topic of several analyst reports. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Nike in a research report on Tuesday, April 18th. Deutsche Bank AG reissued a “buy” rating and set a $64.00 price target on shares of Nike in a report on Saturday, April 22nd. Jefferies Group LLC reissued a “buy” rating and set a $75.00 price target on shares of Nike in a report on Friday, May 5th. Berenberg Bank assumed coverage on Nike in a report on Tuesday, May 16th. They set a “buy” rating and a $70.00 price target on the stock. Finally, Stifel Nicolaus reissued a “buy” rating and set a $66.00 price target on shares of Nike in a report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-two have assigned a buy rating to the company. Nike has an average rating of “Buy” and a consensus target price of $61.04.
In other news, insider Trevor A. Edwards sold 200,000 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $57.63, for a total value of $11,526,000.00. Following the completion of the sale, the insider now owns 729,610 shares of the company’s stock, valued at approximately $42,047,424.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Andrew Campion sold 5,722 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $59.40, for a total transaction of $339,886.80. Following the completion of the sale, the chief financial officer now directly owns 34,976 shares of the company’s stock, valued at approximately $2,077,574.40. The disclosure for this sale can be found here. In the last three months, insiders sold 492,360 shares of company stock valued at $28,485,174. Corporate insiders own 3.90% of the company’s stock.
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.
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