Global Thematic Partners LLC Trims Stake in Nike Inc (NKE)

Global Thematic Partners LLC trimmed its stake in shares of Nike Inc (NYSE:NKE) by 0.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 451,414 shares of the footwear maker’s stock after selling 3,726 shares during the period. Nike comprises about 1.8% of Global Thematic Partners LLC’s holdings, making the stock its 26th biggest position. Global Thematic Partners LLC’s holdings in Nike were worth $38,013,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Standard Life Aberdeen plc raised its holdings in Nike by 10.3% in the 3rd quarter. Standard Life Aberdeen plc now owns 403,034 shares of the footwear maker’s stock valued at $34,145,000 after acquiring an additional 37,643 shares during the last quarter. Renaissance Technologies LLC acquired a new position in Nike in the 3rd quarter valued at $34,615,000. BW Gestao de Investimentos Ltda. acquired a new position in Nike in the 3rd quarter valued at $847,000. Vident Investment Advisory LLC raised its holdings in Nike by 66.5% in the 3rd quarter. Vident Investment Advisory LLC now owns 19,504 shares of the footwear maker’s stock valued at $1,653,000 after acquiring an additional 7,789 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Nike in the 3rd quarter valued at $9,988,000. Institutional investors own 65.62% of the company’s stock.

Shares of NYSE NKE opened at $87.80 on Wednesday. Nike Inc has a 52-week low of $64.99 and a 52-week high of $88.59. The firm has a market cap of $136.47 billion, a PE ratio of 36.28, a P/E/G ratio of 2.61 and a beta of 0.67. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.17 and a quick ratio of 1.43.

Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.03. Nike had a net margin of 10.79% and a return on equity of 45.78%. The company had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the previous year, the company earned $0.68 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts expect that Nike Inc will post 2.55 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, March 1st. This represents a $0.88 annualized dividend and a dividend yield of 1.00%. Nike’s dividend payout ratio is presently 36.36%.

In related news, EVP John F. Slusher sold 110,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $85.02, for a total transaction of $9,352,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Monique S. Matheson sold 16,500 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $88.21, for a total transaction of $1,455,465.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 426,500 shares of company stock valued at $35,107,665. 3.90% of the stock is owned by corporate insiders.

Several research analysts have weighed in on NKE shares. Stifel Nicolaus reiterated a “buy” rating on shares of Nike in a report on Thursday, December 20th. Jefferies Financial Group set a $75.00 price target on Nike and gave the company a “buy” rating in a report on Thursday, December 20th. Deutsche Bank set a $69.00 price target on Nike and gave the company a “buy” rating in a report on Thursday, December 20th. Credit Suisse Group set a $90.00 price target on Nike and gave the company a “buy” rating in a report on Friday, December 21st. Finally, Piper Jaffray Companies set a $92.00 price target on Nike and gave the company a “buy” rating in a report on Friday, December 21st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $87.10.

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About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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