Acadian Asset Management LLC Sells 28,854 Shares of NIKE, Inc. (NYSE:NKE)

Acadian Asset Management LLC cut its holdings in NIKE, Inc. (NYSE:NKE) by 30.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 66,472 shares of the footwear maker’s stock after selling 28,854 shares during the quarter. Acadian Asset Management LLC’s holdings in NIKE were worth $6,242,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Fiducient Advisors LLC bought a new position in NIKE in the first quarter valued at approximately $258,000. Vanguard Group Inc. boosted its stake in NIKE by 0.5% in the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after acquiring an additional 501,792 shares during the last quarter. Alera Investment Advisors LLC boosted its position in shares of NIKE by 6.3% during the first quarter. Alera Investment Advisors LLC now owns 2,358 shares of the footwear maker’s stock worth $222,000 after purchasing an additional 139 shares in the last quarter. Spirepoint Private Client LLC bought a new position in shares of NIKE during the first quarter worth $425,000. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of NIKE by 1.5% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 990,580 shares of the footwear maker’s stock worth $93,064,000 after purchasing an additional 14,965 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling at NIKE

In other news, VP Johanna Nielsen sold 282 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares in the company, valued at $68,357.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Chairman Mark G. Parker sold 168,378 shares of the firm’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 value of $15,682,726.92. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $102,648,662.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now owns 730 shares of the company’s stock, valued at $68,357.20. 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.

Analysts Set New Price Targets

NKE has been the topic of a number of recent analyst reports. StockNews.com cut shares of NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Telsey Advisory Group dropped their price objective on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Guggenheim dropped their price objective on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 28th. KeyCorp restated a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Finally, UBS Group reiterated a “neutral” rating and issued a $78.00 price target on shares of NIKE in a research note on Friday, June 28th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, NIKE currently has a consensus rating of “Hold” and an average target price of $96.44.

NIKE Trading Up 3.1 %

Shares of NYSE:NKE traded up $2.29 during trading on Monday, reaching $74.99. The stock had a trading volume of 14,714,541 shares, compared to its average volume of 11,387,265. The firm’s fifty day moving average is $87.46 and its 200 day moving average is $94.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. NIKE, Inc. has a 52 week low of $71.24 and a 52 week high of $123.39. The stock has a market cap of $113.19 billion, a price-to-earnings ratio of 19.95, a P/E/G ratio of 1.89 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 earnings per share. As a group, equities analysts forecast that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is 39.68%.

NIKE Company 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.