Dimensional Fund Advisors LP Reduces Position in NIKE, Inc. (NYSE:NKE)

Dimensional Fund Advisors LP lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 0.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,148,454 shares of the footwear maker’s stock after selling 20,734 shares during the quarter. Dimensional Fund Advisors LP owned about 0.27% of NIKE worth $312,771,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cim LLC purchased a new position in NIKE during the 4th quarter worth approximately $14,275,000. TKG Advisors LLC acquired a new stake in NIKE during the 4th quarter worth approximately $1,012,000. Spartan Planning & Wealth Management acquired a new stake in NIKE during the 4th quarter worth approximately $182,000. CreativeOne Wealth LLC lifted its position in NIKE by 16.1% during the 4th quarter. CreativeOne Wealth LLC now owns 20,542 shares of the footwear maker’s stock worth $2,230,000 after acquiring an additional 2,846 shares during the period. Finally, Edmond DE Rothschild Holding S.A. lifted its position in NIKE by 27.9% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 113,299 shares of the footwear maker’s stock worth $12,301,000 after acquiring an additional 24,686 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity

In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’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 of the company’s stock, valued at $80,435,628. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Holmes Swan purchased 2,941 shares of the stock in a transaction on Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.

NIKE Stock Performance

NIKE stock opened at $80.64 on Wednesday. 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 fifty day moving average of $77.52 and a two-hundred day moving average of $87.32. The company has a market capitalization of $121.71 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 2.08 and a beta of 1.02. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39.

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

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Analysts Set New Price Targets

A number of research firms have weighed in on NKE. Stifel Nicolaus decreased their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 price objective on shares of NIKE in a research report on Friday, June 28th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $83.00 price objective (down from $116.00) on shares of NIKE in a research report on Friday, June 28th. KeyCorp reissued a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Finally, Telsey Advisory Group reduced their price target on NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $95.59.

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.