DnB Asset Management AS Has $56.85 Million Stock Position in NIKE, Inc. (NYSE:NKE)

DnB Asset Management AS lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 13.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 515,069 shares of the footwear maker’s stock after selling 81,504 shares during the quarter. DnB Asset Management AS’s holdings in NIKE were worth $56,848,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. America First Investment Advisors LLC acquired a new position in shares of NIKE during the first quarter valued at about $27,000. Tucker Asset Management LLC acquired a new position in NIKE in the 1st quarter valued at approximately $29,000. Financial Freedom LLC acquired a new position in NIKE in the 4th quarter valued at approximately $29,000. Ruedi Wealth Management Inc. bought a new stake in shares of NIKE in the 4th quarter worth approximately $30,000. Finally, Worth Asset Management LLC acquired a new stake in shares of NIKE during the 1st quarter worth approximately $32,000. 63.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Johanna Nielsen sold 1,706 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $107.00, for a total transaction of $182,542.00. Following the sale, the vice president now owns 954 shares of the company’s stock, valued at $102,078. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Johanna Nielsen sold 1,706 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $107.00, for a total transaction of $182,542.00. Following the completion of the sale, the vice president now owns 954 shares of the company’s stock, valued at $102,078. 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 5,545 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $107.00, for a total transaction of $593,315.00. Following the completion of the sale, the chief financial officer now directly owns 42,119 shares in the company, valued at $4,506,733. The disclosure for this sale can be found here. In the last quarter, insiders have sold 157,251 shares of company stock valued at $17,063,257. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on NKE. Bank of America reduced their target price on NIKE from $135.00 to $125.00 in a research report on Friday, June 30th. Robert W. Baird reduced their price objective on shares of NIKE from $138.00 to $130.00 and set an “outperform” rating for the company in a report on Monday, July 3rd. Citigroup lowered their target price on shares of NIKE from $125.00 to $109.00 in a research note on Tuesday, June 13th. Williams Trading cut their price target on shares of NIKE from $95.00 to $91.00 and set a “sell” rating for the company in a research note on Thursday, September 7th. Finally, Stifel Nicolaus lowered their price objective on NIKE from $143.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, August 28th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average price target of $130.28.

NIKE Trading Up 0.4 %

NKE traded up $0.43 during midday trading on Thursday, reaching $96.56. 1,820,713 shares of the company were exchanged, compared to its average volume of 6,881,050. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.81 and a current ratio of 2.72. The stock has a market capitalization of $147.73 billion, a P/E ratio of 29.90, a PEG ratio of 1.73 and a beta of 1.12. The stock’s 50-day simple moving average is $105.24 and its 200 day simple moving average is $113.14. NIKE, Inc. has a one year low of $82.22 and a one year high of $131.31.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.02). NIKE had a return on equity of 34.01% and a net margin of 9.90%. The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.58 billion. During the same period in the previous year, the business earned $0.90 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. As a group, analysts forecast that NIKE, Inc. will post 3.71 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Friday, September 1st. NIKE’s dividend payout ratio is currently 42.11%.

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.