Worldquant Millennium Advisors LLC Has $8.44 Million Stake in NIKE, Inc. (NYSE:NKE)

Worldquant Millennium Advisors LLC decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 82.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 111,526 shares of the footwear maker’s stock after selling 525,619 shares during the period. Worldquant Millennium Advisors LLC’s holdings in NIKE were worth $8,439,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP boosted its stake in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after purchasing an additional 8,898,591 shares during the period. Geode Capital Management LLC boosted its stake in NIKE by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock valued at $1,915,110,000 after purchasing an additional 347,178 shares during the period. Capital World Investors boosted its stake in NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock valued at $1,857,389,000 after purchasing an additional 2,288,627 shares during the period. Bank of New York Mellon Corp boosted its stake in NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after purchasing an additional 3,121,929 shares during the period. Finally, Norges Bank bought a new stake in NIKE during the 4th quarter valued at approximately $1,126,288,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity

In related news, Director Robert Holmes Swan bought 8,600 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the subject of several recent analyst reports. UBS Group decreased their target price on NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Citigroup reduced their price objective on NIKE from $72.00 to $57.00 and set a “neutral” rating for the company in a research report on Monday, April 28th. Guggenheim reiterated a “buy” rating and issued a $110.00 price objective on shares of NIKE in a research report on Wednesday, February 12th. Williams Trading reduced their price objective on NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Finally, Bank of America reduced their price objective on NIKE from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Seventeen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.26.

NIKE Stock Performance

NKE stock opened at $59.96 on Thursday. The business’s 50-day moving average price is $60.40 and its two-hundred day moving average price is $70.42. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm has a market cap of $88.68 billion, a PE ratio of 18.50, a P/E/G ratio of 2.52 and a beta of 1.23. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. As a group, research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.67%. NIKE’s dividend payout ratio (DPR) is 53.16%.

NIKE Company Profile

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.