GAM Holding AG Sells 15,428 Shares of NIKE, Inc. (NYSE:NKE)

GAM Holding AG lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 18.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,186 shares of the footwear maker’s stock after selling 15,428 shares during the period. GAM Holding AG’s holdings in NIKE were worth $4,328,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new stake in NIKE during the fourth quarter worth about $28,000. LFA Lugano Financial Advisors SA lifted its stake in shares of NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after acquiring an additional 210 shares during the last quarter. Hopwood Financial Services Inc. bought a new stake in shares of NIKE in the 4th quarter valued at about $30,000. EnRich Financial Partners LLC lifted its stake in shares of NIKE by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 273 shares during the last quarter. Finally, BankPlus Trust Department bought a new stake in shares of NIKE in the 4th quarter valued at about $34,000. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NKE shares. Royal Bank Of Canada lowered their target price on NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 20th. Wells Fargo & Company boosted their target price on NIKE from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. lowered their target price on NIKE from $64.00 to $56.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. The Goldman Sachs Group lowered their target price on NIKE from $88.00 to $72.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Finally, Barclays lowered their target price on NIKE from $60.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday. Seventeen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.74.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan purchased 8,600 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

NIKE Stock Up 0.4%

NKE stock opened at $59.78 on Friday. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $98.04. The business’s 50 day moving average price is $59.78 and its two-hundred day moving average price is $68.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.19. The company has a market capitalization of $88.41 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 2.10 and a beta of 1.21.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the prior year, the business earned $0.98 EPS. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.68%. NIKE’s dividend payout ratio is currently 53.16%.

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.