NIKE, Inc. (NYSE:NKE) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. lowered its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 7.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 274,925 shares of the footwear maker's stock after selling 21,278 shares during the quarter. Pinebridge Investments L.P.'s holdings in NIKE were worth $20,804,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NKE. Tidal Investments LLC raised its stake in NIKE by 65.4% in the third quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker's stock worth $9,332,000 after buying an additional 41,752 shares in the last quarter. Denver PWM LLC boosted its stake in NIKE by 9.7% during the third quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker's stock worth $228,000 after acquiring an additional 227 shares in the last quarter. Confluence Investment Management LLC lifted its holdings in shares of NIKE by 6.3% during the fourth quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker's stock valued at $18,621,000 after purchasing an additional 14,592 shares during the last quarter. Cacti Asset Management LLC bought a new position in NIKE during the 4th quarter valued at approximately $9,987,000. Finally, GAMMA Investing LLC raised its stake in NIKE by 1.0% during the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker's stock valued at $1,136,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Guggenheim reiterated a "buy" rating and issued a $110.00 target price on shares of NIKE in a research note on Wednesday, February 12th. Wells Fargo & Company dropped their price target on shares of NIKE from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. The Goldman Sachs Group cut their target price on shares of NIKE from $88.00 to $72.00 and set a "buy" rating for the company in a research report on Tuesday. Stifel Nicolaus cut their price objective on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Finally, Morgan Stanley dropped their target price on NIKE from $72.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Friday, March 21st. Sixteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $82.81.

NIKE Stock Down 1.4 %

NKE stock traded down $0.82 during trading on Friday, hitting $57.66. 17,132,246 shares of the company's stock traded hands, compared to its average volume of 14,393,340. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The business has a fifty day simple moving average of $66.75 and a two-hundred day simple moving average of $73.01. The firm has a market capitalization of $85.29 billion, a P/E ratio of 17.80, a PEG ratio of 2.52 and a beta of 1.15. 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 quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The business's revenue for the quarter was down 9.1% compared to the same quarter last year. Sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE's payout ratio is currently 53.16%.

NIKE 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.