TCW Group Inc. Trims Position in NIKE, Inc. (NYSE:NKE)

TCW Group Inc. lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 11.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 787,257 shares of the footwear maker’s stock after selling 99,742 shares during the period. NIKE makes up approximately 1.0% of TCW Group Inc.’s portfolio, making the stock its 28th largest position. TCW Group Inc. owned about 0.05% of NIKE worth $85,477,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Iron Horse Wealth Management LLC grew its holdings in shares of NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares in the last quarter. Planned Solutions Inc. acquired a new position in NIKE during the 4th quarter worth approximately $29,000. Mizuho Securities Co. Ltd. increased its position in shares of NIKE by 100.0% in the 4th quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock valued at $37,000 after purchasing an additional 170 shares during the last quarter. NewSquare Capital LLC raised its holdings in shares of NIKE by 372.0% in the 4th quarter. NewSquare Capital LLC now owns 354 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 279 shares in the last quarter. Finally, Raleigh Capital Management Inc. grew its stake in shares of NIKE by 134.2% during the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after purchasing an additional 216 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Morgan Stanley lowered their price objective on NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a research report on Wednesday, March 27th. Williams Trading reaffirmed a “sell” rating and issued a $85.00 target price (down from $92.00) on shares of NIKE in a report on Monday, March 18th. Wells Fargo & Company dropped their target price on NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Evercore ISI lowered their price objective on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Finally, Barclays lowered their price objective on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $116.26.

Insider Buying and Selling at NIKE

In related news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The disclosure for this sale can be found here. Insiders sold a total of 213,660 shares of company stock worth $19,946,333 in the last 90 days. 0.50% of the stock is owned by corporate insiders.

NIKE Stock Down 1.2 %

Shares of NKE traded down $1.10 during mid-day trading on Thursday, reaching $91.40. 7,622,974 shares of the stock traded hands, compared to its average volume of 9,240,034. The firm has a market cap of $137.96 billion, a price-to-earnings ratio of 27.08, a P/E/G ratio of 1.79 and a beta of 1.07. The stock has a fifty day simple moving average of $93.49 and a 200 day simple moving average of $102.11. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. Sell-side analysts expect that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors 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 1.62%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio is currently 43.53%.

About NIKE

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.