Highland Capital Management LLC Sells 18,205 Shares of NIKE, Inc. (NYSE:NKE)

Highland Capital Management LLC cut its position in NIKE, Inc. (NYSE:NKE) by 18.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 81,153 shares of the footwear maker’s stock after selling 18,205 shares during the period. Highland Capital Management LLC’s holdings in NIKE were worth $7,174,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Longview Partners Guernsey LTD acquired a new position in NIKE during the first quarter worth approximately $533,533,000. Capital World Investors boosted its stake in shares of NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after acquiring an additional 4,457,376 shares during the period. Jennison Associates LLC increased its holdings in shares of NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after acquiring an additional 2,775,510 shares during the last quarter. PineStone Asset Management Inc. raised its stake in NIKE by 138.3% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after acquiring an additional 1,576,049 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in NIKE by 351.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after purchasing an additional 1,550,611 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Down 0.2 %

Shares of NYSE NKE opened at $78.85 on Friday. The stock has a 50-day moving average price of $82.71 and a two-hundred day moving average price of $84.98. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The company has a market cap of $118.22 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 1.95 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the business posted $0.94 earnings per share. As a group, analysts forecast that NIKE, Inc. will post 2.78 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were given a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.88%. NIKE’s dividend payout ratio is presently 42.41%.

Insider Activity

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NKE. JPMorgan Chase & Co. decreased their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Wedbush lowered their price target on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Barclays reduced their price objective on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, UBS Group boosted their price target on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $96.56.

NIKE Profile

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.