NIKE, Inc. $NKE Shares Sold by Manchester Global Management UK Ltd

Manchester Global Management UK Ltd cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 207,723 shares of the footwear maker’s stock after selling 15,277 shares during the period. NIKE makes up about 1.8% of Manchester Global Management UK Ltd’s investment portfolio, making the stock its 17th largest holding. Manchester Global Management UK Ltd’s holdings in NIKE were worth $13,234,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NKE. Cornerstone Financial Management LLC acquired a new stake in NIKE in the fourth quarter worth approximately $26,000. J.Safra Asset Management Corp acquired a new stake in NIKE in the fourth quarter worth approximately $29,000. Gordian Capital Singapore Pte Ltd acquired a new stake in NIKE in the third quarter worth approximately $35,000. Litman Gregory Wealth Management LLC acquired a new stake in NIKE in the fourth quarter worth approximately $32,000. Finally, Accredited Wealth Management LLC lifted its position in NIKE by 268.6% in the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock worth $36,000 after purchasing an additional 376 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

NYSE NKE opened at $45.06 on Wednesday. The stock has a market capitalization of $66.72 billion, a P/E ratio of 29.84, a P/E/G ratio of 1.96 and a beta of 1.12. NIKE, Inc. has a 1 year low of $41.35 and a 1 year high of $80.17. The business’s fifty day moving average is $44.30 and its two-hundred day moving average is $55.14. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $11.28 billion for the quarter, compared to analysts’ expectations of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The firm’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 earnings per share. On average, research analysts forecast that NIKE, Inc. will post 1.49 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.6%. NIKE’s dividend payout ratio is currently 108.61%.

Insider Buying and Selling

In related news, Director Timothy D. Cook purchased 25,000 shares of the company’s stock in a transaction on Friday, April 10th. The shares were bought at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the completion of the acquisition, the director owned 130,480 shares of the company’s stock, valued at approximately $5,536,266.40. This represents a 23.70% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Philip Mccartney sold 17,398 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the transaction, the executive vice president directly owned 53,133 shares in the company, valued at $2,453,681.94. This represents a 24.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have purchased 64,441 shares of company stock valued at $2,734,204 in the last three months. Insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NKE shares. Weiss Ratings downgraded NIKE from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, June 8th. CICC Research downgraded NIKE from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $69.00 to $58.00 in a research report on Monday, April 6th. JPMorgan Chase & Co. restated a “neutral” rating on shares of NIKE in a research report on Monday, April 13th. BNP Paribas Exane cut their target price on NIKE from $35.00 to $23.00 and set an “underperform” rating for the company in a research report on Wednesday, April 1st. Finally, Evercore cut their target price on NIKE from $69.00 to $57.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Fifteen analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Hold” and a consensus price target of $60.89.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).