Gateway Investment Advisers LLC Sells 50,942 Shares of NIKE, Inc. (NYSE:NKE)

Gateway Investment Advisers LLC lowered its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 74.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,492 shares of the footwear maker's stock after selling 50,942 shares during the period. Gateway Investment Advisers LLC's holdings in NIKE were worth $1,324,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp lifted its holdings in shares of NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker's stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP lifted its stake in NIKE by 5.1% during the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker's stock valued at $2,425,886,000 after buying an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker's stock worth $2,204,451,000 after buying an additional 251,411 shares during the period. Legal & General Group Plc increased its position in shares of NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker's stock worth $832,785,000 after acquiring an additional 571,544 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of NIKE by 6.0% during the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker's stock valued at $910,801,000 after acquiring an additional 583,207 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

Analyst Ratings Changes

NKE has been the subject of a number of recent analyst reports. Telsey Advisory Group lowered shares of NIKE from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $93.00 to $80.00 in a research note on Friday, December 20th. Bank of America lowered their price target on NIKE from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, December 20th. Needham & Company LLC reissued a "buy" rating and issued a $84.00 price objective on shares of NIKE in a research note on Friday, December 20th. DA Davidson raised NIKE to a "strong-buy" rating in a research note on Monday, December 23rd. Finally, Guggenheim reduced their price target on shares of NIKE from $115.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, NIKE presently has an average rating of "Moderate Buy" and an average target price of $89.96.

NIKE Stock Performance

NIKE stock traded down $0.22 during trading hours on Friday, hitting $70.89. The stock had a trading volume of 9,688,434 shares, compared to its average volume of 11,668,856. NIKE, Inc. has a fifty-two week low of $70.32 and a fifty-two week high of $107.43. The company has a market cap of $104.85 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02. The company has a 50-day moving average of $75.77 and a two-hundred day moving average of $77.94. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to analysts' expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE's quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the business earned $1.03 earnings per share. On average, equities research analysts anticipate that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This is a positive change from NIKE's previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE's payout ratio is 49.38%.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the company's stock in a transaction on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company's stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by insiders.

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.