Jensen Investment Management Inc. Reduces Stake in NIKE, Inc. (NYSE:NKE)

Jensen Investment Management Inc. trimmed its stake in NIKE, Inc. (NYSE:NKE) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,387,637 shares of the footwear maker’s stock after selling 47,561 shares during the quarter. NIKE makes up 2.3% of Jensen Investment Management Inc.’s holdings, making the stock its 19th biggest position. Jensen Investment Management Inc. owned approximately 0.23% of NIKE worth $256,342,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. JNBA Financial Advisors boosted its stake in NIKE by 1.3% in the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after acquiring an additional 131 shares during the last quarter. Frisch Financial Group Inc. raised its position in shares of NIKE by 4.7% in the third quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock valued at $269,000 after purchasing an additional 136 shares during the period. Nations Financial Group Inc. IA ADV raised its position in shares of NIKE by 0.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after purchasing an additional 136 shares during the period. GAMMA Investing LLC raised its position in shares of NIKE by 1.0% in the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock valued at $1,136,000 after purchasing an additional 150 shares during the period. Finally, Game Plan Financial Advisors LLC raised its position in shares of NIKE by 11.1% in the fourth quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock valued at $114,000 after purchasing an additional 150 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on NKE shares. Deutsche Bank Aktiengesellschaft lowered their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Telsey Advisory Group reissued a “market perform” rating and issued a $80.00 price target on shares of NIKE in a research report on Wednesday, February 19th. Evercore ISI lowered their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, Wells Fargo & Company decreased their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.69.

NIKE Price Performance

Shares of NIKE stock opened at $71.72 on Monday. The firm has a market cap of $106.08 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $101.92. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company’s fifty day simple moving average is $74.68 and its two-hundred day simple moving average is $77.77.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 EPS. As a group, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is 49.38%.

NIKE Company 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.