E Fund Management Co. Ltd. Sells 4,241 Shares of NIKE, Inc. (NYSE:NKE)

E Fund Management Co. Ltd. cut its holdings in NIKE, Inc. (NYSE:NKE) by 26.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,702 shares of the footwear maker’s stock after selling 4,241 shares during the quarter. E Fund Management Co. Ltd.’s holdings in NIKE were worth $1,292,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of NIKE by 100,067.7% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,922,059,328 shares of the footwear maker’s stock worth $212,137,688,000 after purchasing an additional 1,920,140,487 shares during the last quarter. Morgan Stanley lifted its stake in NIKE by 26.4% in the fourth quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock valued at $3,594,561,000 after buying an additional 6,410,744 shares during the period. Geode Capital Management LLC boosted its holdings in NIKE by 0.5% during the first quarter. Geode Capital Management LLC now owns 22,478,963 shares of the footwear maker’s stock worth $2,750,643,000 after buying an additional 116,877 shares during the last quarter. FMR LLC grew its position in shares of NIKE by 11.8% during the 1st quarter. FMR LLC now owns 19,087,757 shares of the footwear maker’s stock worth $2,340,922,000 after buying an additional 2,011,891 shares during the period. Finally, Moneta Group Investment Advisors LLC increased its stake in shares of NIKE by 139,649.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 16,813,307 shares of the footwear maker’s stock valued at $1,967,325,000 after acquiring an additional 16,801,276 shares during the last quarter. 63.42% of the stock is owned by institutional investors.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan bought 13,072 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was purchased at an average cost of $96.13 per share, with a total value of $1,256,611.36. Following the transaction, the director now directly owns 18,005 shares in the company, valued at approximately $1,730,820.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other NIKE news, Director Robert Holmes Swan purchased 13,072 shares of the stock in a transaction dated Monday, October 2nd. The shares were bought at an average price of $96.13 per share, with a total value of $1,256,611.36. Following the completion of the transaction, the director now directly owns 18,005 shares in the company, valued at approximately $1,730,820.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 58,091 shares of NIKE stock in a transaction on Monday, October 16th. The shares were sold at an average price of $99.60, for a total value of $5,785,863.60. Following the completion of the transaction, the chairman now owns 1,255,600 shares of the company’s stock, valued at $125,057,760. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NKE. Citigroup cut their price target on shares of NIKE from $109.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 20th. Jefferies Financial Group downgraded NIKE from a “buy” rating to a “hold” rating and dropped their price target for the company from $140.00 to $100.00 in a research note on Monday, September 25th. Stifel Nicolaus cut their price target on NIKE from $143.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, August 28th. BMO Capital Markets dropped their target price on NIKE from $120.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, September 29th. Finally, Guggenheim reaffirmed a “buy” rating and set a $135.00 price target on shares of NIKE in a research report on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $122.03.

NIKE Stock Down 0.5 %

Shares of NIKE stock traded down $0.51 during trading on Tuesday, reaching $105.81. 2,702,355 shares of the company traded hands, compared to its average volume of 7,363,428. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.87 and a quick ratio of 1.84. The firm has a market capitalization of $161.03 billion, a PE ratio of 32.81, a P/E/G ratio of 1.79 and a beta of 1.09. The company has a 50 day moving average price of $99.94 and a 200-day moving average price of $105.52. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $131.31.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, September 28th. The footwear maker reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.20. NIKE had a net margin of 9.82% and a return on equity of 34.97%. The firm had revenue of $12.90 billion for the quarter, compared to analyst estimates of $13 billion. During the same period last year, the firm earned $0.93 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. As a group, equities research analysts expect that NIKE, Inc. will post 3.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $1.48 annualized dividend and a dividend yield of 1.40%. This is a boost from NIKE’s previous quarterly dividend of $0.34. NIKE’s dividend payout ratio (DPR) is currently 41.98%.

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.