Shell Asset Management Co. Sells 10,552 Shares of NIKE, Inc. (NYSE:NKE)

Shell Asset Management Co. lessened its position in NIKE, Inc. (NYSE:NKEFree Report) by 43.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,492 shares of the footwear maker’s stock after selling 10,552 shares during the period. Shell Asset Management Co.’s holdings in NIKE were worth $1,465,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System bought a new stake in NIKE in the 4th quarter worth $8,034,000. Financial Gravity Asset Management Inc. grew its holdings in NIKE by 2,332.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after acquiring an additional 176,476 shares during the last quarter. Brown Advisory Inc. grew its holdings in NIKE by 4.3% in the 4th quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock worth $506,908,000 after acquiring an additional 192,752 shares during the last quarter. International Assets Investment Management LLC grew its holdings in NIKE by 10,184.3% in the 4th quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after acquiring an additional 384,357 shares during the last quarter. Finally, Missouri Trust & Investment Co lifted its position in shares of NIKE by 11.3% in the 4th quarter. Missouri Trust & Investment Co now owns 11,492 shares of the footwear maker’s stock worth $1,248,000 after purchasing an additional 1,167 shares during the period. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group dropped their target price on shares of NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. UBS Group dropped their target price on shares of NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Wedbush reaffirmed an “outperform” rating and issued a $115.00 target price on shares of NIKE in a research report on Tuesday, April 30th. Telsey Advisory Group dropped their target price on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. Finally, Stifel Nicolaus dropped their target price on shares of NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $116.07.

Get Our Latest Stock Analysis on NKE

NIKE Trading Down 0.6 %

NYSE NKE opened at $96.01 on Tuesday. The company’s 50-day moving average price is $92.78 and its 200-day moving average price is $100.86. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The stock has a market cap of $144.91 billion, a PE ratio of 28.24, a PEG ratio of 1.76 and a beta of 1.05. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $123.39.

NIKE (NYSE:NKEGet Free Report) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. Equities research analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.54%. The ex-dividend date is Monday, June 3rd. NIKE’s payout ratio is 43.53%.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction dated 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 completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction dated 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 completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were 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 $4,236,917.52. The disclosure for this sale can be found here. Insiders have sold a total of 213,660 shares of company stock worth $19,946,333 in the last three months. Corporate insiders own 0.50% of the company’s stock.

NIKE Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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