Voleon Capital Management LP Sells 11,519 Shares of NIKE, Inc. $NKE

Voleon Capital Management LP reduced its position in NIKE, Inc. (NYSE:NKE) by 48.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 12,448 shares of the footwear maker’s stock after selling 11,519 shares during the period. Voleon Capital Management LP’s holdings in NIKE were worth $790,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in NIKE by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock valued at $7,182,831,000 after acquiring an additional 4,957,494 shares during the period. Wellington Management Group LLP raised its stake in NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after acquiring an additional 9,043,180 shares during the period. Goldman Sachs Group Inc. raised its stake in NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after acquiring an additional 20,688,013 shares during the period. Bank of New York Mellon Corp increased its position in shares of NIKE by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker’s stock valued at $1,332,331,000 after buying an additional 620,214 shares during the period. Finally, Flossbach Von Storch SE lifted its holdings in shares of NIKE by 24.0% in the first quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker’s stock worth $652,995,000 after buying an additional 1,988,547 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NKE. Barclays raised their price objective on shares of NIKE from $53.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, June 27th. Evercore ISI cut their price objective on shares of NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, June 24th. Morgan Stanley raised their price objective on shares of NIKE from $61.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, June 27th. DZ Bank lowered shares of NIKE from a “buy” rating to a “hold” rating and set a $76.00 price objective for the company. in a research report on Thursday, July 10th. Finally, HSBC upgraded shares of NIKE from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $78.22.

NIKE Trading Down 0.7%

Shares of NIKE stock opened at $73.60 on Wednesday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62. The firm has a market cap of $108.70 billion, a PE ratio of 34.07, a PEG ratio of 2.69 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The company has a 50 day simple moving average of $75.54 and a two-hundred day simple moving average of $67.87.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same period in the previous year, the business posted $0.99 earnings per share. NIKE’s revenue for the quarter was down 11.9% on a year-over-year basis. Analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.2%. NIKE’s payout ratio is presently 74.07%.

NIKE Company Profile

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.