Cooper Investors PTY Ltd. Trims Position in NIKE, Inc. (NYSE:NKE)

Cooper Investors PTY Ltd. decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 7.4% in the 1st quarter, Holdings Channel reports. The firm owned 82,563 shares of the footwear maker’s stock after selling 6,624 shares during the period. Cooper Investors PTY Ltd.’s holdings in NIKE were worth $5,241,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC lifted its position in NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock valued at $196,901,000 after purchasing an additional 2,416,601 shares during the last quarter. Capitolis Liquid Global Markets LLC grew its stake in NIKE by 40.9% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker’s stock worth $23,458,000 after purchasing an additional 90,000 shares during the period. Janus Henderson Group PLC grew its stake in NIKE by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker’s stock worth $460,160,000 after purchasing an additional 463,470 shares during the period. Markel Group Inc. grew its stake in NIKE by 0.8% in the fourth quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker’s stock worth $32,720,000 after purchasing an additional 3,500 shares during the period. Finally, Evergreen Capital Management LLC grew its stake in shares of NIKE by 3.3% in the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker’s stock worth $18,042,000 after acquiring an additional 7,536 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE opened at $60.81 on Tuesday. The company has a market cap of $89.95 billion, a P/E ratio of 20.20, a PEG ratio of 2.11 and a beta of 1.21. The stock has a fifty day moving average price of $59.89 and a 200 day moving average price of $67.82. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.19 and a quick ratio of 1.52. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $98.04.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s dividend payout ratio is 53.16%.

Insider Activity

In other news, Director Robert Holmes Swan bought 8,600 shares of the company’s stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NKE shares. Morgan Stanley dropped their price objective on NIKE from $70.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 17th. BMO Capital Markets lowered their target price on NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Citigroup decreased their price objective on NIKE from $72.00 to $57.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Bank of America cut their target price on NIKE from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, Barclays cut their target price on NIKE from $60.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 18th. Sixteen research 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $78.74.

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.