NIKE, Inc. (NYSE:NKE) Stock Position Lessened by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 10.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 533,153 shares of the footwear maker’s stock after selling 61,003 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in NIKE were worth $40,184,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position in shares of NIKE by 87.5% during the 4th 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 buying an additional 7,996,434 shares in the last quarter. Capital International Investors raised its holdings in NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares in the last quarter. Longview Partners Guernsey LTD acquired a new stake in NIKE in the first quarter worth approximately $533,533,000. Capital World Investors boosted its stake in NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after purchasing an additional 4,457,376 shares in the last quarter. Finally, Jennison Associates LLC increased its position in shares of NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after purchasing an additional 2,775,510 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Barclays raised their target price on NIKE from $80.00 to $84.00 and gave the company an “equal weight” rating in a research note on Wednesday. Guggenheim lowered their price objective on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Citigroup reduced their target price on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a report on Friday, June 28th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $83.00 price target (down previously from $116.00) on shares of NIKE in a report on Friday, June 28th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $79.00 price objective on shares of NIKE in a research note on Friday. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.15.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s 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 in the company, valued at approximately $80,435,628. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Chairman Mark G. Parker sold 110,000 shares of the business’s 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 completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the firm’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 completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

NIKE Stock Up 6.8 %

NKE opened at $86.52 on Friday. The company has a market capitalization of $130.59 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The business has a 50-day moving average of $78.11 and a 200-day moving average of $87.06.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same period in the previous year, the company earned $0.66 earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. Equities research analysts forecast that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

NIKE Company 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.