Rhumbline Advisers Cuts Holdings in NIKE, Inc. (NYSE:NKE)

Rhumbline Advisers trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,278,898 shares of the footwear maker’s stock after selling 81,948 shares during the period. Rhumbline Advisers owned about 0.15% of NIKE worth $144,664,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Caitlin John LLC raised its stake in shares of NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of NIKE during the 4th quarter worth approximately $28,000. Roxbury Financial LLC purchased a new position in shares of NIKE during the 4th quarter worth approximately $30,000. LFA Lugano Financial Advisors SA raised its stake in shares of NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after buying an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. purchased a new position in shares of NIKE during the 4th quarter worth approximately $30,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Down 1.5%

Shares of NIKE stock opened at $60.52 on Monday. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $98.04. The firm has a market cap of $89.52 billion, a PE ratio of 18.68, a P/E/G ratio of 2.52 and a beta of 1.23. The business’s fifty day moving average is $59.08 and its two-hundred day moving average is $69.58. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued 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 business 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 business’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period last year, the company posted $0.98 EPS. Analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s dividend payout ratio (DPR) is currently 53.16%.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of research reports. Williams Trading lowered their price target on NIKE from $93.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, April 21st. Bank of America lowered their price target on NIKE from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Berenberg Bank initiated coverage on NIKE in a report on Tuesday, April 15th. They issued a “hold” rating and a $58.00 price target on the stock. Needham & Company LLC lowered their price target on NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Finally, China Renaissance initiated coverage on NIKE in a report on Wednesday, March 19th. They issued a “hold” rating on the stock. Seventeen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $80.26.

Insider Buying and Selling

In other news, Director Robert Holmes Swan bought 8,600 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

About NIKE

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.