Davis R M Inc. Sells 1,229 Shares of NIKE, Inc. (NYSE:NKE)

Davis R M Inc. cut its stake in NIKE, Inc. (NYSE:NKE) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 119,270 shares of the footwear maker’s stock after selling 1,229 shares during the quarter. Davis R M Inc.’s holdings in NIKE were worth $18,426,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its position in NIKE by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 26,797,530 shares of the footwear maker’s stock worth $3,561,122,000 after buying an additional 273,141 shares during the last quarter. Alliancebernstein L.P. lifted its position in NIKE by 15.2% in the second quarter. Alliancebernstein L.P. now owns 23,084,530 shares of the footwear maker’s stock worth $3,566,329,000 after buying an additional 3,045,282 shares during the last quarter. Geode Capital Management LLC lifted its position in NIKE by 4.8% in the first quarter. Geode Capital Management LLC now owns 20,024,003 shares of the footwear maker’s stock worth $2,653,972,000 after buying an additional 910,648 shares during the last quarter. Nuveen Asset Management LLC lifted its position in NIKE by 1.0% in the first quarter. Nuveen Asset Management LLC now owns 11,059,373 shares of the footwear maker’s stock worth $1,469,680,000 after buying an additional 105,856 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in NIKE by 6.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 7,837,911 shares of the footwear maker’s stock worth $1,041,581,000 after buying an additional 486,326 shares during the last quarter. Institutional investors own 64.45% of the company’s stock.

NKE opened at $149.01 on Monday. NIKE, Inc. has a 1 year low of $118.80 and a 1 year high of $174.38. The firm has a market capitalization of $235.70 billion, a PE ratio of 42.02, a price-to-earnings-growth ratio of 2.49 and a beta of 0.87. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.72 and a quick ratio of 2.01. The business’s 50-day moving average is $164.95 and its two-hundred day moving average is $147.80.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Wednesday, September 22nd. The footwear maker reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.04. NIKE had a return on equity of 51.41% and a net margin of 12.86%. The business had revenue of $12.25 billion for the quarter, compared to analyst estimates of $12.47 billion. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The company’s revenue was up 15.6% on a year-over-year basis. As a group, sell-side analysts expect that NIKE, Inc. will post 4.3 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Monday, August 30th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, August 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.74%. NIKE’s payout ratio is 30.90%.

In related news, COO Andrew Campion sold 7,125 shares of NIKE stock in a transaction dated Thursday, August 5th. The stock was sold at an average price of $171.50, for a total transaction of $1,221,937.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 140,000 shares of NIKE stock in a transaction dated Thursday, July 8th. The stock was sold at an average price of $160.16, for a total value of $22,422,400.00. The disclosure for this sale can be found here. Insiders have sold 306,671 shares of company stock worth $49,513,487 in the last 90 days. Insiders own 3.70% of the company’s stock.

NKE has been the subject of a number of analyst reports. Credit Suisse Group set a $183.00 price target on NIKE in a research report on Wednesday, September 22nd. Guggenheim lifted their target price on NIKE from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, June 25th. Pivotal Research reiterated a “buy” rating and set a $175.00 target price on shares of NIKE in a research report on Tuesday, September 21st. Jefferies Financial Group set a $200.00 target price on NIKE and gave the stock a “buy” rating in a research report on Friday. Finally, BTIG Research downgraded NIKE from a “buy” rating to a “neutral” rating in a research report on Monday, September 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $174.13.

NIKE Company Profile

NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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