AMF Tjanstepension AB Lowers Stake in NIKE, Inc. (NYSE:NKE)

AMF Tjanstepension AB reduced its position in NIKE, Inc. (NYSE:NKE) by 25.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 255,540 shares of the footwear maker’s stock after selling 89,057 shares during the quarter. AMF Tjanstepension AB’s holdings in NIKE were worth $24,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NKE. Piscataqua Savings Bank lifted its holdings in shares of NIKE by 2.1% in the 4th quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock valued at $528,000 after acquiring an additional 100 shares during the last quarter. Physicians Financial Services Inc. raised its position in NIKE by 0.6% during the fourth quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock valued at $1,745,000 after purchasing an additional 100 shares during the period. ZWJ Investment Counsel Inc. lifted its stake in shares of NIKE by 4.0% in the 4th quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock valued at $282,000 after purchasing an additional 100 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in shares of NIKE by 0.4% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock worth $2,776,000 after purchasing an additional 100 shares during the period. Finally, Claro Advisors LLC increased its position in shares of NIKE by 0.8% during the 4th quarter. Claro Advisors LLC now owns 12,227 shares of the footwear maker’s stock valued at $1,327,000 after purchasing an additional 101 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NKE has been the subject of several recent analyst reports. Bank of America dropped their price objective on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research note on Friday. Guggenheim cut their price target on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday. HSBC reduced their price objective on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday. KeyCorp restated a “sector weight” rating on shares of NIKE in a research report on Friday. Finally, Jefferies Financial Group reduced their price target on NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, NIKE currently has a consensus rating of “Hold” and an average target price of $98.96.

NIKE Stock Down 20.0 %

Shares of NYSE NKE traded down $18.83 during mid-day trading on Friday, reaching $75.36. 129,696,053 shares of the company were exchanged, compared to its average volume of 10,299,254. The firm has a 50-day moving average of $93.28 and a 200 day moving average of $99.15. NIKE, Inc. has a 1 year low of $74.55 and a 1 year high of $123.39. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The stock has a market cap of $113.75 billion, a price-to-earnings ratio of 22.16, a P/E/G ratio of 1.79 and a beta of 1.05.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period in the prior year, the firm posted $0.66 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, research analysts expect that NIKE, Inc. will post 3.81 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio is currently 43.53%.

Insider Transactions at NIKE

In other news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 213,660 shares of company stock valued at $19,946,333. Corporate insiders own 0.50% of the company’s stock.

NIKE Profile

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.