NIKE, Inc. $NKE Stock Position Decreased by Mmbg Investment Advisors CO.

Mmbg Investment Advisors CO. lessened its holdings in NIKE, Inc. (NYSE:NKE) by 37.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 22,017 shares of the footwear maker’s stock after selling 13,143 shares during the quarter. Mmbg Investment Advisors CO.’s holdings in NIKE were worth $1,415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NKE. Brighton Jones LLC boosted its position in shares of NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after buying an additional 160,980 shares during the period. Caxton Associates LLP acquired a new stake in shares of NIKE in the first quarter worth $311,000. United Bank boosted its position in shares of NIKE by 11.3% in the second quarter. United Bank now owns 17,067 shares of the footwear maker’s stock worth $1,212,000 after buying an additional 1,736 shares during the period. NewEdge Advisors LLC boosted its position in shares of NIKE by 0.3% in the second quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock worth $4,558,000 after buying an additional 197 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of NIKE by 6.5% in the second quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock worth $13,588,000 after buying an additional 11,646 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Transactions at NIKE

In related news, Director Timothy D. Cook bought 25,000 shares of the business’s stock in a transaction on Friday, April 10th. The shares were bought at an average cost of $42.43 per share, for a total transaction of $1,060,750.00. Following the completion of the acquisition, the director directly owned 130,480 shares in the company, valued at approximately $5,536,266.40. This represents a 23.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Elliott Hill bought 23,660 shares of the business’s stock in a transaction on Monday, April 13th. The shares were bought at an average price of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the acquisition, the chief executive officer owned 265,247 shares of the company’s stock, valued at approximately $11,211,990.69. This represents a 9.79% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 64,441 shares of company stock worth $2,734,204 in the last ninety days. Company insiders own 0.80% of the company’s stock.

NIKE Price Performance

NKE opened at $44.70 on Tuesday. The stock has a market cap of $66.20 billion, a price-to-earnings ratio of 29.60, a PEG ratio of 2.37 and a beta of 1.12. NIKE, Inc. has a 1 year low of $41.35 and a 1 year high of $80.17. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average price of $46.41 and a 200 day moving average price of $57.17.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The firm had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 earnings per share. Analysts forecast that NIKE, Inc. will post 1.51 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.7%. NIKE’s dividend payout ratio (DPR) is presently 108.61%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Evercore decreased their target price on NIKE from $69.00 to $57.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Telsey Advisory Group decreased their target price on NIKE from $65.00 to $55.00 and set a “market perform” rating for the company in a research report on Wednesday, April 1st. BTIG Research decreased their target price on NIKE from $90.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Weiss Ratings raised NIKE from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday. Finally, Guggenheim decreased their target price on NIKE from $77.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Sixteen analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $62.04.

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).