Candriam S.C.A. Decreases Stock Holdings in NIKE, Inc. $NKE

Candriam S.C.A. reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 60.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,364 shares of the footwear maker’s stock after selling 233,934 shares during the period. Candriam S.C.A.’s holdings in NIKE were worth $10,555,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NKE. Twin Peaks Wealth Advisors LLC bought a new stake in NIKE in the second quarter worth approximately $31,000. Guerra Advisors Inc acquired a new position in shares of NIKE during the 3rd quarter worth about $34,000. NewSquare Capital LLC increased its position in NIKE by 54.4% in the 2nd quarter. NewSquare Capital LLC now owns 732 shares of the footwear maker’s stock worth $52,000 after buying an additional 258 shares during the period. Field & Main Bank increased its position in NIKE by 36.4% in the 2nd quarter. Field & Main Bank now owns 750 shares of the footwear maker’s stock worth $53,000 after buying an additional 200 shares during the period. Finally, Financial Consulate Inc. acquired a new position in shares of NIKE during the third quarter worth approximately $57,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NIKE stock opened at $62.98 on Wednesday. The stock has a market capitalization of $93.23 billion, a price-to-earnings ratio of 37.05, a P/E/G ratio of 3.19 and a beta of 1.27. The firm’s 50-day moving average price is $63.75 and its two-hundred day moving average price is $68.05. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, topping the consensus estimate of $0.37 by $0.16. The business had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.19 billion. NIKE had a return on equity of 18.43% and a net margin of 5.43%.NIKE’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 EPS. On average, equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were issued a dividend of $0.41 per share. The ex-dividend date was Monday, December 1st. This is a boost from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.6%. NIKE’s dividend payout ratio (DPR) is currently 96.47%.

Insiders Place Their Bets

In other NIKE news, CEO Elliott Hill purchased 16,388 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The stock was acquired at an average cost of $61.10 per share, with a total value of $1,001,306.80. Following the completion of the acquisition, the chief executive officer directly owned 241,587 shares of the company’s stock, valued at $14,760,965.70. This represents a 7.28% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Holmes Swan purchased 8,691 shares of NIKE stock in a transaction that occurred on Monday, December 22nd. The shares were bought at an average price of $57.54 per share, for a total transaction of $500,080.14. Following the transaction, the director owned 43,293 shares in the company, valued at $2,491,079.22. This represents a 25.12% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 75,079 shares of company stock valued at $4,449,887. 0.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on NKE. JPMorgan Chase & Co. lowered their price target on NIKE from $100.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, November 17th. Williams Trading lowered their price objective on NIKE from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, December 19th. Royal Bank Of Canada restated a “buy” rating on shares of NIKE in a research note on Wednesday, January 21st. Citigroup reiterated a “neutral” rating and set a $65.00 price target (down previously from $70.00) on shares of NIKE in a research note on Friday, December 19th. Finally, Berenberg Bank reissued a “neutral” rating and issued a $70.00 price target on shares of NIKE in a report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.61.

NIKE Company Profile

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).