Commerzbank Aktiengesellschaft FI Cuts Stake in NIKE, Inc. $NKE

Commerzbank Aktiengesellschaft FI lowered its holdings in shares of NIKE, Inc. (NYSE:NKE) by 13.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 125,354 shares of the footwear maker’s stock after selling 19,756 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in NIKE were worth $6,621,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of NIKE by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker’s stock valued at $7,453,658,000 after buying an additional 1,702,342 shares during the last quarter. State Street Corp lifted its stake in shares of NIKE by 2.2% in the 4th quarter. State Street Corp now owns 59,315,606 shares of the footwear maker’s stock valued at $3,802,807,000 after acquiring an additional 1,275,494 shares during the last quarter. Capital World Investors boosted its holdings in NIKE by 16.2% during the 4th quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after acquiring an additional 6,830,938 shares during the period. J. Stern & Co. LLP boosted its holdings in NIKE by 49,010.4% during the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock valued at $3,061,555,000 after acquiring an additional 47,956,692 shares during the period. Finally, Geode Capital Management LLC grew its position in NIKE by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker’s stock worth $1,677,251,000 after acquiring an additional 233,925 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE stock opened at $43.43 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. NIKE, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $80.17. The firm has a market cap of $64.31 billion, a P/E ratio of 20.78, a P/E/G ratio of 2.53 and a beta of 1.12. The business’s 50 day moving average price is $43.69 and its 200-day moving average price is $51.66.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. During the same quarter in the prior year, the company earned $0.14 earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities research analysts anticipate that NIKE, Inc. will post 1.75 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were issued a $0.41 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 3.8%. NIKE’s dividend payout ratio is 78.47%.

Insider Buying and Selling

In other news, EVP Philip Mccartney sold 17,398 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the sale, the executive vice president directly owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. This trade represents a 24.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on NKE. China Renaissance decreased their price target on NIKE from $74.60 to $50.30 and set a “hold” rating on the stock in a research note on Thursday, April 2nd. HSBC lowered NIKE from a “buy” rating to a “hold” rating and dropped their price objective for the company from $90.00 to $48.00 in a research note on Monday, April 13th. Telsey Advisory Group set a $47.00 target price on shares of NIKE and gave the stock a “market perform” rating in a report on Wednesday, July 1st. Stifel Nicolaus set a $45.00 target price on shares of NIKE and gave the stock a “hold” rating in a research note on Wednesday, July 1st. Finally, Royal Bank Of Canada reiterated a “neutral” rating on shares of NIKE in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $54.80.

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).