Ieq Capital LLC Sells 25,511 Shares of NIKE, Inc. (NYSE:NKE)

Ieq Capital LLC reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 20.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 96,962 shares of the footwear maker’s stock after selling 25,511 shares during the period. Ieq Capital LLC’s holdings in NIKE were worth $7,308,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its position in shares of NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after purchasing an additional 7,996,434 shares during the last quarter. Capital International Investors lifted its holdings in NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after buying an additional 7,143,775 shares in the last quarter. Longview Partners Guernsey LTD bought a new stake in NIKE during the 1st quarter valued at about $533,533,000. Capital World Investors boosted its position in NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after buying an additional 4,457,376 shares during the period. Finally, Jennison Associates LLC grew its stake in NIKE by 45.6% in the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after acquiring an additional 2,775,510 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Guggenheim decreased their price target on shares of NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Sanford C. Bernstein decreased their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday. Evercore ISI increased their price target on NIKE from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday. Royal Bank of Canada cut their price target on NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 2nd. Finally, Stifel Nicolaus lowered their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.15.

NIKE Trading Up 6.9 %

NIKE stock opened at $86.55 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The stock has a market cap of $130.64 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The stock has a 50-day moving average of $78.11 and a two-hundred day moving average of $87.14. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same period last year, the business earned $0.66 EPS. NIKE’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, research analysts anticipate that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

NIKE Profile

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.