Saratoga Research & Investment Management Sells 15,963 Shares of NIKE, Inc. (NYSE:NKE)

Saratoga Research & Investment Management decreased its position in NIKE, Inc. (NYSE:NKE) by 2.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 621,018 shares of the footwear maker’s stock after selling 15,963 shares during the period. NIKE comprises 2.7% of Saratoga Research & Investment Management’s portfolio, making the stock its 16th biggest position. Saratoga Research & Investment Management’s holdings in NIKE were worth $58,363,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Capital International Investors raised its stake in shares of NIKE by 34.9% during 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 in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of NIKE by 87.5% during 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 in the last quarter. Norges Bank bought a new stake in shares of NIKE during the 4th quarter worth approximately $1,315,097,000. Fisher Asset Management LLC raised its stake in shares of NIKE by 2.3% during 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 in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of NIKE by 18.3% during the 3rd quarter. American Century Companies Inc. now owns 5,620,466 shares of the footwear maker’s stock worth $537,429,000 after purchasing an additional 870,423 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares in the company, valued at approximately $4,236,917.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares in the company, valued at approximately $4,236,917.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Insiders sold 213,660 shares of company stock worth $19,946,333 in the last ninety days. 0.50% of the stock is owned by company insiders.

NIKE Price Performance

Shares of NIKE stock traded down $18.82 during trading on Friday, hitting $75.37. 129,966,982 shares of the stock traded hands, compared to its average volume of 9,446,953. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The stock has a market cap of $113.76 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.79 and a beta of 1.05. The firm’s fifty day moving average is $93.28 and its 200-day moving average is $99.00. NIKE, Inc. has a 52 week low of $74.55 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.87% and a net margin of 11.10%. The company’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 EPS. Research analysts expect that NIKE, Inc. will post 3.9 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.96%. The ex-dividend date is Monday, June 3rd. NIKE’s dividend payout ratio is presently 39.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NKE shares. Evercore ISI dropped their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday. Robert W. Baird dropped their price target on NIKE from $125.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday. Morgan Stanley restated an “equal weight” rating and issued a $79.00 price target (down previously from $114.00) on shares of NIKE in a research note on Friday. Wedbush dropped their price target on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Citigroup lowered their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Hold” and an average price target of $98.96.

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.