Seeyond Trims Position in NIKE, Inc. (NYSE:NKE)

Seeyond decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 3.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 14,982 shares of the footwear maker’s stock after selling 470 shares during the period. Seeyond’s holdings in NIKE were worth $2,314,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FFT Wealth Management LLC purchased a new position in shares of NIKE during the second quarter valued at approximately $26,000. Princeton Global Asset Management LLC lifted its stake in shares of NIKE by 39.8% during the second quarter. Princeton Global Asset Management LLC now owns 246 shares of the footwear maker’s stock valued at $38,000 after buying an additional 70 shares during the period. Rockbridge Investment Management LCC lifted its stake in shares of NIKE by 43.9% during the second quarter. Rockbridge Investment Management LCC now owns 246 shares of the footwear maker’s stock valued at $38,000 after buying an additional 75 shares during the period. Financial Insights Inc. purchased a new position in shares of NIKE during the second quarter valued at approximately $38,000. Finally, Baldrige Asset Management LLC purchased a new position in NIKE during the second quarter worth approximately $41,000. 64.45% of the stock is currently owned by institutional investors and hedge funds.

NKE stock traded up $0.84 on Thursday, reaching $157.14. 50,718 shares of the company were exchanged, compared to its average volume of 6,575,932. The firm has a market capitalization of $248.56 billion, a PE ratio of 43.90, a PEG 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 stock’s fifty day moving average price is $160.78 and its 200 day moving average price is $148.68. NIKE, Inc. has a 12 month low of $118.80 and a 12 month high of $174.38.

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

The company also recently announced a quarterly dividend, which was paid on Friday, October 1st. Stockholders of record on Monday, August 30th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Friday, August 27th. NIKE’s payout ratio is 30.90%.

A number of equities analysts have weighed in on the stock. KGI Securities assumed coverage on shares of NIKE in a research note on Tuesday, July 6th. They set an “outperform” rating on the stock. Piper Sandler increased their price objective on shares of NIKE from $170.00 to $174.00 and gave the stock an “overweight” rating in a research report on Friday, June 25th. Bank of America dropped their price objective on shares of NIKE from $168.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, September 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of NIKE from $179.00 to $171.00 and set a “buy” rating for the company in a research report on Monday, September 20th. Finally, UBS Group reissued a “buy” rating and set a $185.00 price objective on shares of NIKE in a report on Friday, September 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $174.94.

In other NIKE news, COO Andrew Campion sold 7,125 shares of the company’s stock in a transaction dated Thursday, August 5th. The shares were 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 SEC, which is available through this hyperlink. Also, CFO Matthew Friend sold 3,546 shares of the company’s stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $171.50, for a total value of $608,139.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,671 shares of company stock worth $11,230,087. 3.70% of the stock is owned by insiders.

About NIKE

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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