DnB Asset Management AS lessened its holdings in Nike, Inc. (NYSE:NKE) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 144,717 shares of the footwear maker’s stock after selling 2,100 shares during the quarter. DnB Asset Management AS’s holdings in Nike were worth $8,538,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Accredited Investors Inc. raised its position in Nike by 0.5% in the 1st quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock worth $232,000 after purchasing an additional 19 shares during the period. Montecito Bank & Trust raised its position in Nike by 0.3% in the 1st quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock worth $402,000 after purchasing an additional 24 shares during the period. Intrust Bank NA raised its position in Nike by 0.9% in the 1st quarter. Intrust Bank NA now owns 5,082 shares of the footwear maker’s stock worth $283,000 after purchasing an additional 46 shares during the period. Welch & Forbes LLC raised its position in Nike by 0.5% in the 1st quarter. Welch & Forbes LLC now owns 9,998 shares of the footwear maker’s stock worth $557,000 after purchasing an additional 48 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in Nike by 0.5% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,749 shares of the footwear maker’s stock worth $543,000 after purchasing an additional 50 shares during the period. Institutional investors own 62.72% of the company’s stock.

A number of equities analysts recently commented on the stock. FBR & Co reiterated a “hold” rating and issued a $53.00 target price on shares of Nike in a research report on Thursday. DA Davidson reiterated a “buy” rating and issued a $69.00 target price on shares of Nike in a research report on Thursday. Wedbush reiterated a “neutral” rating and issued a $53.40 target price (up previously from $52.00) on shares of Nike in a research report on Thursday. Deutsche Bank AG reiterated a “buy” rating and issued a $61.00 target price (down previously from $69.00) on shares of Nike in a research report on Wednesday. Finally, Sanford C. Bernstein assumed coverage on shares of Nike in a research report on Tuesday. They issued an “outperform” rating and a $69.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-four have issued a buy rating to the stock. Nike has an average rating of “Buy” and an average target price of $60.48.

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In other news, insider Eric D. Sprunk sold 112,323 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $58.61, for a total value of $6,583,251.03. Following the sale, the insider now directly owns 139,551 shares in the company, valued at approximately $8,179,084.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Trevor A. Edwards sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the completion of the sale, the insider now owns 729,610 shares in the company, valued at $42,047,424.30. The disclosure for this sale can be found here. Insiders sold a total of 492,360 shares of company stock worth $28,485,174 over the last 90 days. Company insiders own 3.90% of the company’s stock.

Shares of Nike, Inc. (NYSE:NKE) traded up 0.1364% on Friday, hitting $53.8033. 3,620,246 shares of the stock traded hands. Nike, Inc. has a 52-week low of $49.01 and a 52-week high of $60.53. The stock has a market cap of $88.41 billion, a P/E ratio of 21.4356 and a beta of 0.61. The stock’s 50 day moving average price is $56.01 and its 200 day moving average price is $55.50.

Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. Nike had a net margin of 12.34% and a return on equity of 34.18%. The business had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.63 billion. During the same period last year, the business earned $0.49 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. On average, equities analysts expect that Nike, Inc. will post $2.41 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s dividend payout ratio is currently 28.69%.

About Nike

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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