Amalgamated Bank Sells 2,362 Shares of NIKE, Inc. (NYSE:NKE)

by · The Markets Daily

Amalgamated Bank cut its stake in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 0.9% in the second quarter, HoldingsChannel reports. The fund owned 254,144 shares of the footwear maker’s stock after selling 2,362 shares during the period. Amalgamated Bank’s holdings in NIKE were worth $19,155,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NKE. Price T Rowe Associates Inc. MD grew 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 valued at $1,860,395,000 after acquiring an additional 7,996,434 shares during the period. Capital International Investors grew 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 valued at $2,997,628,000 after acquiring an additional 7,143,775 shares during the period. Longview Partners Guernsey LTD bought a new position in shares of NIKE during the 1st quarter valued at approximately $533,533,000. Capital World Investors lifted its holdings in NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after purchasing an additional 4,457,376 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings 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 in the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

Shares of NIKE stock opened at $80.64 on Wednesday. The stock’s fifty day moving average is $77.52 and its two-hundred day moving average is $87.32. The company has a market capitalization of $121.71 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39.

NIKE (NYSE:NKE – Get Free Report) 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 company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 EPS. As a group, analysts expect that NIKE, Inc. will post 3.06 earnings per share for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NKE shares. Guggenheim lowered their price target on NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Morgan Stanley reissued an “equal weight” rating and issued a $79.00 price target (down from $114.00) on shares of NIKE in a report on Friday, June 28th. Royal Bank of Canada lowered their price target on NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 2nd. KeyCorp reissued a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Finally, Barclays cut NIKE from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $109.00 to $80.00 in a report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.59.

Check Out Our Latest Stock Analysis on NIKE

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Corporate insiders own 0.50% of the company’s stock.

About NIKE

(Free Report)

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.

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