Heritage Investors Management Corp Trims Stake in NIKE, Inc. $NKE

Heritage Investors Management Corp trimmed its stake in NIKE, Inc. (NYSE:NKE) by 8.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,715 shares of the footwear maker’s stock after selling 29,357 shares during the period. Heritage Investors Management Corp’s holdings in NIKE were worth $21,261,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NKE. Harris Associates L P purchased a new stake in shares of NIKE in the 2nd quarter worth $621,525,000. Jennison Associates LLC increased its stake in shares of NIKE by 42.3% in the 3rd quarter. Jennison Associates LLC now owns 11,838,528 shares of the footwear maker’s stock worth $825,501,000 after purchasing an additional 3,518,666 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of NIKE by 129.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,849,636 shares of the footwear maker’s stock worth $411,951,000 after purchasing an additional 3,299,155 shares in the last quarter. Flossbach Von Storch SE increased its stake in shares of NIKE by 29.3% in the 4th quarter. Flossbach Von Storch SE now owns 12,753,317 shares of the footwear maker’s stock worth $812,514,000 after purchasing an additional 2,886,856 shares in the last quarter. Finally, Sustainable Growth Advisers LP purchased a new stake in shares of NIKE in the 3rd quarter worth $190,182,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Up 0.5%

NKE opened at $44.40 on Friday. The firm has a 50-day simple moving average of $46.81 and a two-hundred day simple moving average of $57.41. NIKE, Inc. has a 52 week low of $41.35 and a 52 week high of $80.17. The company has a market capitalization of $65.75 billion, a PE ratio of 29.40, a price-to-earnings-growth ratio of 2.34 and a beta of 1.12. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50.

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

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio is 108.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NKE shares. Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $54.00 to $51.00 and set a “hold” rating for the company in a research note on Wednesday, April 1st. Barclays reduced their price objective on NIKE from $73.00 to $67.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. CICC Research downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $69.00 to $58.00 in a report on Monday, April 6th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of NIKE in a report on Wednesday, April 1st. Finally, Weiss Ratings downgraded shares of NIKE from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 4th. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $62.04.

Insider Activity at NIKE

In other news, Director Timothy D. Cook acquired 25,000 shares of the firm’s stock in a transaction on Friday, April 10th. The stock was acquired at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the completion of the purchase, the director directly owned 130,480 shares in the company, valued at approximately $5,536,266.40. This trade represents a 23.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Holmes Swan acquired 11,781 shares of the firm’s stock in a transaction on Tuesday, April 7th. The stock was purchased at an average cost of $42.44 per share, with a total value of $499,985.64. Following the purchase, the director owned 55,074 shares of the company’s stock, valued at $2,337,340.56. The trade was a 27.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 64,441 shares of company stock worth $2,734,204 over the last 90 days. Company insiders own 0.80% of the company’s stock.

Trending Headlines about NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE shares are benefiting from a shift into consumer and cyclical stocks as market breadth improves, helping lift sentiment around the name. Nike Stock Is Testing A Level That Could Define The Next Move
• Positive Sentiment: Lower energy prices and softer long-term Treasury yields are helping consumer discretionary stocks, including NIKE, by easing inflation worries and supporting expectations for resilient consumer spending. Nike Stock Soars As Energy Prices And Bond Yields Drop
• Neutral Sentiment: NIKE remains a heavily watched stock, with recent articles and trending searches suggesting investors are actively reassessing the name rather than reacting to a single fundamental catalyst. NIKE, Inc. (NKE) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: Analyst and commentary pieces are focused on whether NIKE is ready for a turnaround, but they do not point to a clear near-term catalyst on their own. Is Nike Stock (NKE) Ready for a Turnaround?
• Negative Sentiment: Some recent analysis remains cautious, arguing NIKE is still not cheap enough or that the operating environment is tough, which could limit upside if investors demand clearer evidence of a rebound. Nike: Not Cheap Enough Yet

NIKE Profile

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).