NIKE, Inc. $NKE Shares Sold by Becker Capital Management Inc.

Becker Capital Management Inc. reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 35.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 276,109 shares of the footwear maker’s stock after selling 153,979 shares during the period. Becker Capital Management Inc.’s holdings in NIKE were worth $19,726,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas grew its position in NIKE by 7.6% in the 2nd quarter. BNP Paribas now owns 40,341 shares of the footwear maker’s stock worth $2,870,000 after purchasing an additional 2,864 shares during the last quarter. EDENTREE ASSET MANAGEMENT Ltd boosted its position in shares of NIKE by 24.0% during the second quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 170,558 shares of the footwear maker’s stock worth $12,111,000 after buying an additional 33,000 shares during the period. NewEdge Advisors LLC increased its position in NIKE by 0.3% in the 2nd quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock valued at $4,558,000 after acquiring an additional 197 shares during the period. Dymon Asia Capital Singapore PTE. LTD. raised its stake in NIKE by 83.6% during the 2nd quarter. Dymon Asia Capital Singapore PTE. LTD. now owns 11,931 shares of the footwear maker’s stock valued at $848,000 after acquiring an additional 5,431 shares in the last quarter. Finally, BCS Private Wealth Management Inc. acquired a new position in NIKE during the 2nd quarter worth $371,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

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

NIKE Price Performance

NYSE NKE opened at $65.79 on Thursday. The stock has a market capitalization of $97.26 billion, a P/E ratio of 33.74, a P/E/G ratio of 2.23 and a beta of 1.29. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44. The business’s fifty day moving average is $65.63 and its two-hundred day moving average is $69.23. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.22. The business had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company posted $0.70 EPS. On average, research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NKE. Morgan Stanley set a $72.00 price target on NIKE and gave the company a “positive” rating in a report on Wednesday, October 1st. UBS Group reissued a “market perform” rating and set a $75.00 target price on shares of NIKE in a research note on Wednesday. Stifel Nicolaus set a $68.00 price objective on shares of NIKE and gave the company a “hold” rating in a report on Wednesday, October 1st. Weiss Ratings reiterated a “sell (d+)” rating on shares of NIKE in a research note on Monday. Finally, TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and upped their target price for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $81.10.

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.