Mitsubishi UFJ Trust & Banking Corp Sells 139,896 Shares of NIKE, Inc. $NKE

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 22.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 486,067 shares of the footwear maker’s stock after selling 139,896 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in NIKE were worth $19,953,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of NIKE by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker’s stock valued at $7,453,658,000 after purchasing an additional 1,702,342 shares during the last quarter. State Street Corp raised its holdings in NIKE by 2.2% during the 4th quarter. State Street Corp now owns 59,315,606 shares of the footwear maker’s stock valued at $3,802,807,000 after buying an additional 1,275,494 shares during the period. Capital World Investors lifted its position in NIKE by 16.2% in the fourth quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock worth $3,126,246,000 after buying an additional 6,830,938 shares during the last quarter. J. Stern & Co. LLP lifted its position in NIKE by 49,010.4% in the fourth quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock worth $3,061,555,000 after buying an additional 47,956,692 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in NIKE by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker’s stock worth $1,677,251,000 after buying an additional 233,925 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, COO Venkatesh Alagirisamy sold 890 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total value of $37,024.00. Following the transaction, the chief operating officer directly owned 74,820 shares in the company, valued at $3,112,512. This represents a 1.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amy Montagne sold 4,867 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $42.05, for a total transaction of $204,657.35. Following the transaction, the insider directly owned 57,436 shares in the company, valued at approximately $2,415,183.80. This trade represents a 7.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 26,142 shares of company stock worth $1,169,380. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of analyst reports. Robert W. Baird reiterated an “outperform” rating and set a $70.00 price objective on shares of NIKE in a research report on Wednesday, July 1st. Jefferies Financial Group lowered their target price on shares of NIKE from $90.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. CICC Research cut their price target on shares of NIKE from $58.00 to $44.80 and set a “neutral” rating on the stock in a report on Thursday, July 2nd. Telsey Advisory Group set a $47.00 price objective on shares of NIKE and gave the stock a “market perform” rating in a research report on Wednesday, July 1st. Finally, Argus raised shares of NIKE to a “strong-buy” rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $53.53.

NIKE Stock Performance

NKE stock opened at $40.73 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. The business’s fifty day simple moving average is $42.90 and its two-hundred day simple moving average is $48.73. NIKE, Inc. has a twelve month low of $40.00 and a twelve month high of $80.17. The firm has a market cap of $60.42 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.81 and a beta of 1.11.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The business’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 earnings per share. Analysts predict that NIKE, Inc. will post 1.74 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 1st. NIKE’s dividend payout ratio (DPR) is currently 78.47%.

NIKE Company 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).