River Global Investors LLP Trims Stock Position in NIKE, Inc. (NYSE:NKE)

River Global Investors LLP cut its holdings in NIKE, Inc. (NYSE:NKE) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,610 shares of the footwear maker’s stock after selling 640 shares during the period. River Global Investors LLP’s holdings in NIKE were worth $1,803,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in NKE. Concord Wealth Partners increased its position in shares of NIKE by 900.0% during the third quarter. Concord Wealth Partners now owns 1,690 shares of the footwear maker’s stock valued at $162,000 after acquiring an additional 1,521 shares during the last quarter. Vision Capital Management Inc. boosted its position in shares of NIKE by 1.6% during the third quarter. Vision Capital Management Inc. now owns 83,241 shares of the footwear maker’s stock worth $7,960,000 after buying an additional 1,322 shares during the period. Verdence Capital Advisors LLC grew its stake in shares of NIKE by 15.0% in the third quarter. Verdence Capital Advisors LLC now owns 4,028 shares of the footwear maker’s stock valued at $385,000 after buying an additional 525 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of NIKE by 3.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 524,548 shares of the footwear maker’s stock valued at $50,157,000 after buying an additional 17,322 shares during the period. Finally, BluePath Capital Management LLC acquired a new position in NIKE during the 3rd quarter worth about $130,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Performance

NYSE:NKE traded down $0.26 during midday trading on Friday, reaching $92.15. The stock had a trading volume of 5,736,711 shares, compared to its average volume of 8,740,078. 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 $139.09 billion, a P/E ratio of 27.10, a P/E/G ratio of 1.78 and a beta of 1.07. The firm has a fifty day simple moving average of $95.73 and a two-hundred day simple moving average of $103.04. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $127.69.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The company had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. On average, equities analysts expect that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is currently 43.53%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Williams Trading reiterated a “sell” rating and set a $85.00 price target (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. Telsey Advisory Group dropped their price target on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. Morgan Stanley decreased their target price on NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a report on Wednesday, March 27th. Jefferies Financial Group cut their price target on NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Finally, Evercore ISI decreased their price objective on NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.26.

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.