American International Group Inc. decreased its stake in shares of Nike Inc (NYSE:NKE) by 1.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 401,041 shares of the footwear maker’s stock after selling 6,088 shares during the period. American International Group Inc.’s holdings in Nike were worth $31,955,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. World Asset Management Inc raised its holdings in shares of Nike by 1.0% in the 2nd quarter. World Asset Management Inc now owns 91,776 shares of the footwear maker’s stock valued at $7,313,000 after acquiring an additional 887 shares in the last quarter. Xact Kapitalforvaltning AB raised its holdings in shares of Nike by 2.7% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 251,524 shares of the footwear maker’s stock valued at $20,041,000 after acquiring an additional 6,498 shares in the last quarter. Montag A & Associates Inc. raised its holdings in shares of Nike by 27.1% in the 2nd quarter. Montag A & Associates Inc. now owns 45,987 shares of the footwear maker’s stock valued at $3,664,000 after acquiring an additional 9,803 shares in the last quarter. Welch & Forbes LLC raised its holdings in shares of Nike by 6.8% in the 2nd quarter. Welch & Forbes LLC now owns 12,322 shares of the footwear maker’s stock valued at $982,000 after acquiring an additional 785 shares in the last quarter. Finally, Bayesian Capital Management LP raised its holdings in shares of Nike by 38.0% in the 1st quarter. Bayesian Capital Management LP now owns 51,600 shares of the footwear maker’s stock valued at $3,428,000 after acquiring an additional 14,200 shares in the last quarter. 64.72% of the stock is currently owned by institutional investors and hedge funds.

NKE opened at $79.75 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.63 and a current ratio of 2.51. Nike Inc has a 1 year low of $50.35 and a 1 year high of $81.88. The company has a market cap of $129.21 billion, a P/E ratio of 32.95, a P/E/G ratio of 2.70 and a beta of 0.68.

Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 28th. The footwear maker reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.05. Nike had a return on equity of 36.57% and a net margin of 5.31%. The business had revenue of $9.79 billion for the quarter, compared to analyst estimates of $9.40 billion. During the same period last year, the company earned $0.60 EPS. Nike’s revenue for the quarter was up 12.8% compared to the same quarter last year. research analysts forecast that Nike Inc will post 2.61 earnings per share for the current fiscal year.

Nike declared that its board has initiated a stock repurchase program on Thursday, June 28th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the footwear maker to purchase up to 12.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Tuesday, September 4th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, August 31st. This represents a $0.80 annualized dividend and a yield of 1.00%. Nike’s payout ratio is 33.06%.

In related news, insider Eric D. Sprunk sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $72.00, for a total transaction of $3,240,000.00. Following the transaction, the insider now directly owns 186,959 shares in the company, valued at approximately $13,461,048. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 30th. The stock was sold at an average price of $76.07, for a total value of $760,700.00. Following the transaction, the executive vice president now owns 86,774 shares in the company, valued at $6,600,898.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 557,778 shares of company stock worth $42,616,326. 3.90% of the stock is owned by corporate insiders.

NKE has been the topic of several recent analyst reports. Credit Suisse Group reaffirmed a “buy” rating and issued a $78.00 price target on shares of Nike in a report on Thursday, June 14th. UBS Group cut Nike from a “buy” rating to a “neutral” rating and raised their price target for the company from $76.00 to $78.00 in a report on Thursday, June 21st. Wells Fargo & Co set a $82.00 price target on Nike and gave the company a “neutral” rating in a report on Monday, August 6th. DZ Bank reaffirmed a “sell” rating on shares of Nike in a report on Friday, June 29th. Finally, Piper Jaffray Companies raised their price target on Nike to $72.00 and gave the company a “neutral” rating in a report on Friday, June 29th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $77.60.

About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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