Kayne Anderson Rudnick Investment Management LLC Sells 16,600 Shares of NIKE, Inc. $NKE

Kayne Anderson Rudnick Investment Management LLC lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 3.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 442,143 shares of the footwear maker’s stock after selling 16,600 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in NIKE were worth $28,067,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Spire Wealth Management grew its position in shares of NIKE by 4.4% in the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock valued at $627,000 after buying an additional 416 shares during the last quarter. Capitolis Liquid Global Markets LLC grew its position in shares of NIKE by 40.9% in the 4th quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker’s stock valued at $23,458,000 after buying an additional 90,000 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of NIKE by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker’s stock valued at $460,160,000 after buying an additional 463,470 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of NIKE by 0.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after buying an additional 5,601 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp grew its position in shares of NIKE by 20.2% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 52,370 shares of the footwear maker’s stock valued at $3,963,000 after buying an additional 8,792 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.80% of the company’s stock.

NIKE Stock Up 2.9%

NKE stock opened at $78.4040 on Monday. The stock’s 50 day simple moving average is $72.51 and its 200 day simple moving average is $67.62. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The company has a market cap of $115.79 billion, a P/E ratio of 36.30, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the prior year, the business earned $0.99 EPS. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE’s dividend payout ratio is 74.07%.

Analysts Set New Price Targets

A number of equities research analysts have commented on NKE shares. Citigroup upped their price target on NIKE from $57.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, June 27th. Needham & Company LLC upped their price target on NIKE from $66.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, June 27th. Morgan Stanley upped their price target on NIKE from $61.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, June 27th. Bank of America upped their target price on NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, June 27th. Finally, Evercore ISI cut their target price on NIKE from $97.00 to $75.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $78.22.

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.