Incline Global Management LLC Sells 1,256 Shares of NIKE, Inc. (NYSE:NKE)

Incline Global Management LLC decreased its position in NIKE, Inc. (NYSE:NKE) by 0.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 162,557 shares of the footwear maker’s stock after selling 1,256 shares during the period. NIKE comprises approximately 4.8% of Incline Global Management LLC’s portfolio, making the stock its 5th biggest holding. Incline Global Management LLC’s holdings in NIKE were worth $15,277,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of NIKE during the fourth quarter valued at $1,315,097,000. Price T Rowe Associates Inc. MD boosted its stake in shares of NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after acquiring an additional 7,996,434 shares during the last quarter. Capital International Investors boosted its stake in shares of NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after acquiring an additional 7,143,775 shares during the last quarter. Longview Partners Guernsey LTD acquired a new stake in shares of NIKE during the first quarter valued at $533,533,000. Finally, Capital World Investors boosted its stake in shares of NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after acquiring an additional 4,457,376 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NKE. UBS Group reiterated a “neutral” rating and set a $78.00 target price on shares of NIKE in a research report on Friday, June 28th. Wells Fargo & Company reduced their target price on NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a research report on Friday, June 28th. BMO Capital Markets reduced their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. HSBC reduced their target price on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Finally, Bank of America reduced their target price on NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, NIKE presently has a consensus rating of “Hold” and a consensus target price of $96.30.

NIKE Stock Up 1.0 %

Shares of NYSE:NKE traded up $0.76 during mid-day trading on Tuesday, hitting $74.31. 8,500,302 shares of the company traded hands, compared to its average volume of 11,440,067. NIKE, Inc. has a 52-week low of $70.91 and a 52-week high of $123.39. The firm’s 50 day simple moving average is $84.77 and its 200 day simple moving average is $93.17. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The firm has a market cap of $112.16 billion, a P/E ratio of 19.92, a PEG ratio of 1.89 and a beta of 1.01.

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

NIKE Dividend Announcement

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 dividend of $0.37 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.99%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Buying and Selling at NIKE

In other NIKE news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the transaction, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction that occurred 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 transaction, the executive vice president now 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. Insiders sold a total of 323,660 shares of company stock worth $27,973,033 in the last 90 days. 0.50% of the stock is owned by corporate insiders.

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.