Ycg LLC Lowers Stake in NIKE, Inc. (NYSE:NKE)

Ycg LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 301,223 shares of the footwear maker’s stock after selling 6,693 shares during the quarter. NIKE accounts for 2.2% of Ycg LLC’s investment portfolio, making the stock its 21st biggest position. Ycg LLC’s holdings in NIKE were worth $27,784,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in NKE. Capital International Investors raised its position in NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares during the period. Price T Rowe Associates Inc. MD raised its position in NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after purchasing an additional 7,996,434 shares during the period. Norges Bank purchased a new position in NIKE in the 4th quarter worth $1,315,097,000. Fisher Asset Management LLC raised its position in NIKE by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock worth $1,073,515,000 after purchasing an additional 219,091 shares during the period. Finally, Jennison Associates LLC raised its position in NIKE by 45.6% in the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after purchasing an additional 2,775,510 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NYSE NKE traded up $0.05 during trading hours on Friday, hitting $73.44. 14,505,080 shares of the company’s stock traded hands, compared to its average volume of 11,194,067. The business’s fifty day moving average price is $89.89 and its two-hundred day moving average price is $96.31. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $110.85 billion, a P/E ratio of 19.69, a P/E/G ratio of 1.86 and a beta of 1.01. NIKE, Inc. has a 52 week low of $71.67 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 earnings per share. Equities research analysts predict that NIKE, Inc. will post 3.17 EPS for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were given a $0.37 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.02%. NIKE’s payout ratio is currently 39.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NKE shares. Evercore ISI decreased their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. BMO Capital Markets cut their price target on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 target price on shares of NIKE in a research note on Friday, June 28th. Royal Bank of Canada cut their target price on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 2nd. Finally, The Goldman Sachs Group cut their target price on shares of NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, NIKE presently has a consensus rating of “Hold” and an average price target of $96.44.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Insiders sold a total of 213,660 shares of company stock worth $19,946,333 over the last three months. 0.50% of the stock is currently owned by company insiders.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.