Groupama Asset Managment Sells 90,136 Shares of NIKE, Inc. (NYSE:NKE)

Groupama Asset Managment decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 60.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,940 shares of the footwear maker’s stock after selling 90,136 shares during the quarter. Groupama Asset Managment’s holdings in NIKE were worth $4,475,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in NIKE in the 4th quarter valued at about $1,126,288,000. Wellington Management Group LLP grew its position in shares of NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after purchasing an additional 8,898,591 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of NIKE by 6,029.6% in the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after purchasing an additional 6,709,985 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of NIKE by 18.1% during the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in NIKE by 358.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after purchasing an additional 2,357,745 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NKE has been the subject of several recent research reports. Barclays cut their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Bank of America decreased their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company dropped their price target on NIKE from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Morgan Stanley reduced their price objective on NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Finally, Stifel Nicolaus lowered their target price on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. Fifteen 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $87.38.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

NIKE Trading Up 2.0 %

Shares of NKE stock opened at $64.78 on Wednesday. The company has a market cap of $95.81 billion, a P/E ratio of 19.99, a PEG ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a fifty-two week low of $62.65 and a fifty-two week high of $98.04. The stock has a 50 day simple moving average of $73.84 and a two-hundred day simple moving average of $76.72. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 EPS. Research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.47%. NIKE’s dividend payout ratio is currently 53.16%.

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.