Becker Capital Management Inc. decreased its holdings in shares of Nike Inc (NYSE:NKE) by 89.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,176 shares of the footwear maker’s stock after selling 148,842 shares during the quarter. Becker Capital Management Inc.’s holdings in Nike were worth $1,369,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. World Asset Management Inc grew its stake in Nike by 1.0% in the 2nd quarter. World Asset Management Inc now owns 91,776 shares of the footwear maker’s stock valued at $7,313,000 after buying an additional 887 shares during the last quarter. Xact Kapitalforvaltning AB grew its stake in Nike by 2.7% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 251,524 shares of the footwear maker’s stock valued at $20,041,000 after buying an additional 6,498 shares during the last quarter. Welch & Forbes LLC grew its stake in Nike by 6.8% in the 2nd quarter. Welch & Forbes LLC now owns 12,322 shares of the footwear maker’s stock valued at $982,000 after buying an additional 785 shares during the last quarter. Bayesian Capital Management LP boosted its holdings in Nike by 38.0% in the 1st quarter. Bayesian Capital Management LP now owns 51,600 shares of the footwear maker’s stock valued at $3,428,000 after purchasing an additional 14,200 shares during the period. Finally, Montag A & Associates Inc. boosted its holdings in Nike by 27.1% in the 2nd quarter. Montag A & Associates Inc. now owns 45,987 shares of the footwear maker’s stock valued at $3,664,000 after purchasing an additional 9,803 shares during the period. Institutional investors own 63.51% of the company’s stock.

In related news, insider Eric D. Sprunk sold 45,000 shares of Nike stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $72.00, for a total transaction of $3,240,000.00. Following the completion of the transaction, the insider now directly owns 186,959 shares of the company’s stock, valued at approximately $13,461,048. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of Nike stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $76.07, for a total transaction of $760,700.00. Following the transaction, the executive vice president now directly owns 86,774 shares of the company’s stock, valued at $6,600,898.18. The disclosure for this sale can be found here. Insiders have sold a total of 607,778 shares of company stock valued at $46,116,326 over the last ninety days. 3.90% of the stock is owned by insiders.

A number of analysts have weighed in on NKE shares. HSBC raised shares of Nike from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a report on Friday, April 27th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $70.00 price target on shares of Nike in a report on Friday, May 18th. Credit Suisse Group reissued a “buy” rating and issued a $78.00 price target on shares of Nike in a report on Thursday, June 14th. DA Davidson reissued a “buy” rating on shares of Nike in a report on Monday, May 7th. Finally, Wells Fargo & Co reissued a “market perform” rating and issued a $74.00 price target (up from $62.00) on shares of Nike in a report on Sunday, June 10th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $77.46.

Nike opened at $80.73 on Friday, MarketBeat Ratings reports. The stock has a market cap of $128.89 billion, a PE ratio of 33.36, a price-to-earnings-growth ratio of 2.70 and a beta of 0.68. Nike Inc has a 52 week low of $50.35 and a 52 week high of $81.88. The company has a quick ratio of 1.63, a current ratio of 2.51 and a debt-to-equity ratio of 0.35.

Nike (NYSE:NKE) last released its quarterly earnings data on Thursday, June 28th. The footwear maker reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The company had revenue of $9.79 billion during the quarter, compared to the consensus estimate of $9.40 billion. Nike had a net margin of 5.31% and a return on equity of 36.57%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS. equities research analysts expect that Nike Inc will post 2.61 EPS for the current year.

Nike declared that its Board of Directors has initiated a stock repurchase plan on Thursday, June 28th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the footwear maker to purchase up to 12.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.99%. Nike’s payout ratio is 33.06%.

About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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