Advisors Asset Management Inc. Has $3.04 Million Stake in NIKE, Inc. $NKE

Advisors Asset Management Inc. cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 18.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,535 shares of the footwear maker’s stock after selling 10,023 shares during the quarter. Advisors Asset Management Inc.’s holdings in NIKE were worth $3,036,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of NIKE by 0.6% in the second quarter. Vanguard Group Inc. now owns 113,823,785 shares of the footwear maker’s stock worth $8,086,042,000 after acquiring an additional 672,705 shares during the period. State Street Corp raised its holdings in NIKE by 2.8% during the 2nd quarter. State Street Corp now owns 59,154,159 shares of the footwear maker’s stock worth $4,225,441,000 after purchasing an additional 1,590,603 shares during the last quarter. Invesco Ltd. raised its holdings in NIKE by 66.1% during the 2nd quarter. Invesco Ltd. now owns 12,157,198 shares of the footwear maker’s stock worth $863,647,000 after purchasing an additional 4,840,114 shares during the last quarter. Jennison Associates LLC lifted its position in shares of NIKE by 42.3% in the 3rd quarter. Jennison Associates LLC now owns 11,838,528 shares of the footwear maker’s stock worth $825,501,000 after purchasing an additional 3,518,666 shares during the period. Finally, Norges Bank bought a new stake in shares of NIKE in the 2nd quarter valued at $835,063,000. Institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In related news, Director Timothy D. Cook purchased 50,000 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was acquired at an average cost of $58.97 per share, with a total value of $2,948,500.00. Following the transaction, the director owned 105,480 shares of the company’s stock, valued at $6,220,155.60. This represents a 90.12% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Elliott Hill acquired 16,388 shares of the company’s stock in a transaction on Monday, December 29th. The shares were bought at an average price of $61.10 per share, for a total transaction of $1,001,306.80. Following the completion of the purchase, the chief executive officer owned 241,587 shares in the company, valued at approximately $14,760,965.70. This represents a 7.28% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 75,079 shares of company stock valued at $4,449,887 over the last ninety days. 0.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Raymond James Financial reissued a “market perform” rating on shares of NIKE in a research note on Monday, December 15th. Barclays reiterated a “neutral” rating on shares of NIKE in a report on Thursday, January 15th. Berenberg Bank reissued a “neutral” rating and issued a $70.00 price objective on shares of NIKE in a research report on Friday, December 19th. Sanford C. Bernstein restated a “buy” rating and set a $85.00 target price on shares of NIKE in a research report on Tuesday, January 6th. Finally, Stifel Nicolaus set a $65.00 target price on NIKE and gave the stock a “hold” rating in a report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.61.

NIKE Stock Performance

Shares of NKE stock opened at $63.07 on Friday. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. The firm has a fifty day simple moving average of $63.54 and a two-hundred day simple moving average of $67.78. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44. The firm has a market capitalization of $93.37 billion, a PE ratio of 37.10, a price-to-earnings-growth ratio of 3.23 and a beta of 1.27.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The firm had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.19 billion. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm earned $0.78 earnings per share. Analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.64 dividend on an annualized basis and a yield of 2.6%. This is an increase from NIKE’s previous quarterly dividend of $0.40. NIKE’s dividend payout ratio is presently 96.47%.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).