NIKE, Inc. (NYSE:NKE) Shares Sold by Tsai Capital Corp

Tsai Capital Corp trimmed its position in NIKE, Inc. (NYSE:NKE - Free Report) by 13.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,969 shares of the footwear maker's stock after selling 8,279 shares during the quarter. NIKE accounts for 2.9% of Tsai Capital Corp's holdings, making the stock its 11th largest holding. Tsai Capital Corp's holdings in NIKE were worth $3,932,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in NIKE during the 4th quarter valued at $1,126,288,000. Pacer Advisors Inc. lifted its stake in shares of NIKE by 6,029.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker's stock worth $516,166,000 after purchasing an additional 6,709,985 shares during the last quarter. Bank of New York Mellon Corp boosted its position in NIKE by 18.1% during the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock valued at $1,541,246,000 after purchasing an additional 3,121,929 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in NIKE by 358.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker's stock valued at $228,165,000 after purchasing an additional 2,357,745 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in NIKE in the fourth quarter worth about $156,438,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Trading Up 1.9 %

NYSE:NKE traded up $1.22 on Tuesday, reaching $64.70. 5,675,348 shares of the company's stock were exchanged, compared to its average volume of 12,921,948. The business has a fifty day moving average of $74.01 and a 200-day moving average of $76.82. 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, Inc. has a 52-week low of $62.65 and a 52-week high of $98.04. The firm has a market capitalization of $95.70 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

Remove Ads

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results 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 net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $11.02 billion. During the same quarter last year, the company posted $0.98 EPS. The firm's revenue was down 9.1% compared to the same quarter last year. As a group, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.47%. NIKE's dividend payout ratio (DPR) is 53.16%.

Insider Buying and Selling at NIKE

In related news, 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 transaction of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NKE shares. Wells Fargo & Company lowered 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. DA Davidson upgraded shares of NIKE to a "strong-buy" rating in a research note on Monday, December 23rd. Citigroup downgraded NIKE from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $102.00 to $72.00 in a research report on Friday, February 7th. Telsey Advisory Group reissued a "market perform" rating and issued a $80.00 price objective on shares of NIKE in a research report on Monday, March 17th. Finally, Jefferies Financial Group raised NIKE from a "hold" rating to a "buy" rating and upped their target price for the company from $75.00 to $115.00 in a research report on Monday, February 24th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, NIKE currently has an average rating of "Moderate Buy" and a consensus price target of $87.38.

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.