Fisher Asset Management LLC Has $35 Million Stock Holdings in NIKE, Inc. $NKE

Fisher Asset Management LLC trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 35.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 492,646 shares of the footwear maker’s stock after selling 268,699 shares during the quarter. Fisher Asset Management LLC’s holdings in NIKE were worth $34,998,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Claret Asset Management Corp acquired a new stake in NIKE in the 2nd quarter valued at $251,000. Edgestream Partners L.P. raised its stake in NIKE by 83.6% during the second quarter. Edgestream Partners L.P. now owns 50,759 shares of the footwear maker’s stock worth $3,606,000 after acquiring an additional 23,110 shares in the last quarter. Shelton Capital Management lifted its holdings in shares of NIKE by 236.6% during the second quarter. Shelton Capital Management now owns 107,801 shares of the footwear maker’s stock valued at $7,658,000 after acquiring an additional 75,775 shares during the period. Sepio Capital LP boosted its stake in shares of NIKE by 1.2% in the 2nd quarter. Sepio Capital LP now owns 20,142 shares of the footwear maker’s stock valued at $1,431,000 after purchasing an additional 229 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in shares of NIKE by 2.1% in the 2nd quarter. Loomis Sayles & Co. L P now owns 6,523,632 shares of the footwear maker’s stock valued at $463,439,000 after purchasing an additional 131,158 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Down 0.6%

NYSE:NKE opened at $64.98 on Wednesday. The company has a market cap of $96.06 billion, a price-to-earnings ratio of 33.33, a P/E/G ratio of 2.41 and a beta of 1.28. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The stock’s fifty day moving average price is $66.29 and its two-hundred day moving average price is $69.13. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $82.44.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same period last year, the firm earned $0.70 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, December 1st. This is a boost from NIKE’s previous quarterly dividend of $0.40. NIKE’s dividend payout ratio is currently 84.10%.

Insider Activity

In other NIKE news, Director Jorgen Vig Knudstorp purchased 16,150 shares of the stock in a transaction dated Friday, November 7th. The stock was bought at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the transaction, the director directly owned 21,388 shares in the company, valued at $1,327,980.92. This represents a 308.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $64.80, for a total transaction of $5,577,854.40. Following the completion of the transaction, the chairman owned 647,615 shares in the company, valued at $41,965,452. This represents a 11.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NKE. Sanford C. Bernstein reiterated a “buy” rating and set a $90.00 target price on shares of NIKE in a research report on Monday, October 13th. DZ Bank raised shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, October 1st. Jefferies Financial Group reiterated a “buy” rating and issued a $115.00 target price on shares of NIKE in a research note on Monday, September 29th. UBS Group set a $71.00 target price on NIKE and gave the stock a “neutral” rating in a report on Friday, September 19th. Finally, Piper Sandler set a $84.00 price target on NIKE and gave the company an “overweight” rating in a report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $82.24.

About NIKE

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.