Optimal Asset Management Inc. Decreases Stock Holdings in NIKE, Inc. (NYSE:NKE)

Optimal Asset Management Inc. decreased its holdings in NIKE, Inc. (NYSE:NKE) by 14.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,932 shares of the footwear maker’s stock after selling 1,200 shares during the quarter. Optimal Asset Management Inc.’s holdings in NIKE were worth $921,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NKE. OLD Mission Capital LLC purchased a new stake in shares of NIKE during the 3rd quarter valued at about $338,000. Los Angeles Capital Management LLC increased its position in shares of NIKE by 356.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 327,249 shares of the footwear maker’s stock valued at $46,296,000 after purchasing an additional 255,528 shares during the last quarter. Berman Capital Advisors LLC increased its position in shares of NIKE by 29.4% during the 4th quarter. Berman Capital Advisors LLC now owns 3,482 shares of the footwear maker’s stock valued at $492,000 after purchasing an additional 791 shares during the last quarter. Virginia Retirement Systems ET AL increased its holdings in NIKE by 8.3% in the 4th quarter. Virginia Retirement Systems ET AL now owns 66,400 shares of the footwear maker’s stock worth $9,394,000 after acquiring an additional 5,100 shares in the last quarter. Finally, Centric Wealth Management increased its holdings in NIKE by 6.9% in the 4th quarter. Centric Wealth Management now owns 3,644 shares of the footwear maker’s stock worth $516,000 after acquiring an additional 234 shares in the last quarter. 64.64% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE NKE opened at $161.08 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.01 and a current ratio of 2.72. The firm has a market capitalization of $254.50 billion, a P/E ratio of 44.87, a PEG ratio of 2.46 and a beta of 0.86. The business has a 50-day simple moving average of $143.08. NIKE, Inc. has a fifty-two week low of $95.80 and a fifty-two week high of $162.73.

NIKE (NYSE:NKE) last released its earnings results on Wednesday, June 23rd. The footwear maker reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.42. NIKE had a return on equity of 51.41% and a net margin of 12.86%. The firm had revenue of $12.30 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the previous year, the company posted ($0.51) earnings per share. The company’s revenue was up 94.8% compared to the same quarter last year. On average, analysts expect that NIKE, Inc. will post 4.25 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 1st. Investors of record on Tuesday, June 1st were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Friday, May 28th. NIKE’s dividend payout ratio is currently 30.90%.

In related news, CAO Hilary K. Krane sold 21,500 shares of the business’s stock in a transaction that occurred on Friday, June 25th. The stock was sold at an average price of $153.16, for a total transaction of $3,292,940.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew Friend sold 9,032 shares of the business’s stock in a transaction that occurred on Thursday, June 3rd. The stock was sold at an average price of $133.20, for a total value of $1,203,062.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 336,339 shares of company stock valued at $52,513,095. 3.80% of the stock is owned by company insiders.

Several equities research analysts recently issued reports on NKE shares. BTIG Research reduced their target price on shares of NIKE from $162.00 to $153.00 and set a “buy” rating for the company in a report on Tuesday, June 22nd. UBS Group increased their target price on shares of NIKE from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, June 25th. JPMorgan Chase & Co. set a $176.00 price target on NIKE and gave the stock a “buy” rating in a research note on Wednesday, April 21st. HSBC raised their price target on NIKE from $158.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, March 31st. Finally, Royal Bank of Canada raised their price target on NIKE from $165.00 to $183.00 and gave the stock an “outperform” rating in a research report on Friday, June 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-nine have issued a buy rating to the stock. NIKE has an average rating of “Buy” and an average target price of $172.39.

NIKE Profile

NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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