Swiss National Bank Decreases Stock Position in NIKE, Inc. $NKE

Swiss National Bank lessened its holdings in NIKE, Inc. (NYSE:NKE) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,396,000 shares of the footwear maker’s stock after selling 170,300 shares during the quarter. Swiss National Bank owned 0.23% of NIKE worth $236,803,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NKE. Twin Peaks Wealth Advisors LLC acquired a new position in shares of NIKE during the second quarter valued at about $31,000. Guerra Advisors Inc acquired a new stake in NIKE in the 3rd quarter worth approximately $34,000. Accredited Wealth Management LLC boosted its stake in NIKE by 268.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock worth $36,000 after purchasing an additional 376 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in NIKE during the 3rd quarter worth approximately $43,000. Finally, Financial Consulate Inc. acquired a new position in NIKE during the 3rd quarter valued at approximately $57,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of NIKE from $100.00 to $86.00 and set a “buy” rating for the company in a report on Monday, November 17th. KeyCorp dropped their price objective on shares of NIKE from $90.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, January 22nd. Needham & Company LLC lowered NIKE from a “buy” rating to a “hold” rating in a research note on Thursday, January 8th. Berenberg Bank reaffirmed a “neutral” rating and set a $70.00 price target on shares of NIKE in a research report on Friday, December 19th. Finally, Sanford C. Bernstein reissued a “buy” rating on shares of NIKE in a report on Thursday, March 5th. Twenty-two equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.61.

NIKE Trading Down 0.8%

NYSE NKE opened at $56.56 on Tuesday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $80.19. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.06 and a quick ratio of 1.40. The company has a market capitalization of $83.73 billion, a PE ratio of 33.27, a P/E/G ratio of 2.92 and a beta of 1.27. The company has a fifty day moving average of $63.17 and a 200 day moving average of $66.19.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.16. The company had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.19 billion. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm earned $0.78 EPS. Research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, March 2nd. NIKE’s dividend payout ratio (DPR) is 96.47%.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan purchased 8,691 shares of NIKE stock in a transaction that occurred on Monday, December 22nd. The stock was bought at an average cost of $57.54 per share, for a total transaction of $500,080.14. Following the completion of the transaction, the director owned 43,293 shares in the company, valued at $2,491,079.22. The trade was a 25.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Elliott Hill purchased 16,388 shares of the firm’s stock in a transaction on Monday, December 29th. The stock was bought at an average cost of $61.10 per share, with a total value of $1,001,306.80. Following the completion of the acquisition, the chief executive officer directly owned 241,587 shares of the company’s stock, valued at $14,760,965.70. This trade represents a 7.28% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 75,079 shares of company stock worth $4,449,887. 0.80% of the stock is owned by corporate insiders.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).