NIKE, Inc. $NKE is Rule One Partners LLC’s 9th Largest Position

Rule One Partners LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 94.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,001 shares of the footwear maker’s stock after selling 35,000 shares during the period. NIKE makes up approximately 0.1% of Rule One Partners LLC’s holdings, making the stock its 9th biggest position. Rule One Partners LLC’s holdings in NIKE were worth $106,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Scarborough Advisors LLC purchased a new position in shares of NIKE in the 1st quarter worth $25,000. Cornerstone Financial Management LLC bought a new stake in shares of NIKE in the fourth quarter worth $26,000. Sankala Group LLC purchased a new stake in NIKE during the fourth quarter valued at $26,000. J.Safra Asset Management Corp purchased a new stake in NIKE during the fourth quarter valued at $29,000. Finally, Meeder Asset Management Inc. lifted its holdings in NIKE by 108.4% in the first quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock valued at $29,000 after acquiring an additional 285 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NYSE:NKE opened at $42.07 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. The stock has a 50-day simple moving average of $43.67 and a two-hundred day simple moving average of $50.89. The firm has a market capitalization of $62.42 billion, a PE ratio of 20.13, a P/E/G ratio of 1.85 and a beta of 1.12. NIKE, Inc. has a 52-week low of $40.00 and a 52-week high of $80.17.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping the consensus estimate of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. During the same quarter last year, the company earned $0.14 earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. Analysts forecast that NIKE, Inc. will post 1.74 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Monday, June 1st. NIKE’s dividend payout ratio (DPR) is presently 78.47%.

Analyst Ratings Changes

Several brokerages have issued reports on NKE. HSBC cut NIKE from a “buy” rating to a “hold” rating and dropped their target price for the stock from $90.00 to $48.00 in a research report on Monday, April 13th. Argus upgraded shares of NIKE to a “strong-buy” rating in a research note on Wednesday, July 15th. Guggenheim reissued a “buy” rating and issued a $60.00 price objective (down from $74.00) on shares of NIKE in a report on Wednesday, July 1st. Jefferies Financial Group dropped their price objective on shares of NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Finally, Oppenheimer cut their target price on shares of NIKE from $120.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $53.86.

Insider Activity at NIKE

In related news, EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction on Friday, June 12th. The shares were sold at an average price of $46.18, for a total transaction of $803,439.64. Following the transaction, the executive vice president owned 53,133 shares in the company, valued at approximately $2,453,681.94. The trade was a 24.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.10% of the stock is owned by 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).