Nike, Inc. (NKE) Position Lowered by National Asset Management Inc.
National Asset Management Inc. trimmed its stake in Nike, Inc. (NYSE:NKE) by 7.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,819 shares of the footwear maker’s stock after selling 1,495 shares during the period. National Asset Management Inc.’s holdings in Nike were worth $1,112,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of NKE. Accredited Investors Inc. grew its position in shares of Nike by 0.5% in the 1st quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock valued at $232,000 after buying an additional 19 shares during the last quarter. Noesis Capital Mangement Corp grew its position in shares of Nike by 3.6% in the 1st quarter. Noesis Capital Mangement Corp now owns 150,712 shares of the footwear maker’s stock valued at $8,399,000 after buying an additional 5,305 shares during the last quarter. Robecosam AG grew its position in shares of Nike by 24.6% in the 1st quarter. Robecosam AG now owns 72,760 shares of the footwear maker’s stock valued at $4,077,000 after buying an additional 14,379 shares during the last quarter. Cibc World Markets Corp grew its position in shares of Nike by 48.3% in the 1st quarter. Cibc World Markets Corp now owns 353,604 shares of the footwear maker’s stock valued at $19,706,000 after buying an additional 115,115 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its position in shares of Nike by 43.5% in the 1st quarter. Neuberger Berman Group LLC now owns 2,209,161 shares of the footwear maker’s stock valued at $123,117,000 after buying an additional 670,079 shares during the last quarter. 62.78% of the stock is currently owned by hedge funds and other institutional investors.
Nike, Inc. (NYSE:NKE) traded up $0.32 during mid-day trading on Wednesday, hitting $60.42. 8,862,800 shares of the stock traded hands, compared to its average volume of 9,586,421. Nike, Inc. has a one year low of $50.26 and a one year high of $61.21. The firm has a market cap of $98,054.16, a PE ratio of 25.57, a PEG ratio of 2.82 and a beta of 0.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.81.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Friday, December 1st. This is an increase from Nike’s previous quarterly dividend of $0.18. Nike’s dividend payout ratio (DPR) is currently 34.04%.
A number of research firms recently commented on NKE. HSBC downgraded shares of Nike from a “buy” rating to a “hold” rating and increased their target price for the company from $58.95 to $62.00 in a research report on Tuesday, November 28th. Robert W. Baird reiterated a “buy” rating and set a $65.00 price target on shares of Nike in a research note on Friday, November 17th. Jefferies Group set a $75.00 price target on shares of Nike and gave the stock a “buy” rating in a research note on Tuesday, August 15th. Vetr cut shares of Nike from a “buy” rating to a “hold” rating and set a $58.81 price target for the company. in a research note on Friday, November 17th. Finally, FBR & Co reiterated a “hold” rating and set a $53.00 price target on shares of Nike in a research note on Friday, October 27th. Three research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and nineteen have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $59.01.
In other news, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.45, for a total value of $855,200.00. Following the completion of the transaction, the director now owns 25,660 shares in the company, valued at approximately $1,371,527. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the completion of the transaction, the chairman now owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
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NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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