NIKE, Inc. $NKE Stock Holdings Trimmed by Manchester Global Management UK Ltd

Manchester Global Management UK Ltd reduced its position in NIKE, Inc. (NYSE:NKE) by 6.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 207,723 shares of the footwear maker’s stock after selling 15,277 shares during the quarter. NIKE makes up about 1.8% of Manchester Global Management UK Ltd’s investment portfolio, making the stock its 17th biggest holding. Manchester Global Management UK Ltd’s holdings in NIKE were worth $13,234,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Norges Bank bought a new stake in NIKE in the fourth quarter valued at about $829,956,000. Harris Associates L P bought a new stake in NIKE in the second quarter valued at about $621,525,000. Capital World Investors increased its holdings in NIKE by 16.2% in the fourth quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after buying an additional 6,830,938 shares during the last quarter. Jasper Ridge Partners L.P. increased its holdings in NIKE by 2,492.4% in the fourth quarter. Jasper Ridge Partners L.P. now owns 4,883,229 shares of the footwear maker’s stock valued at $311,111,000 after buying an additional 4,694,859 shares during the last quarter. Finally, Capital International Investors increased its holdings in NIKE by 83.3% in the fourth quarter. Capital International Investors now owns 7,642,382 shares of the footwear maker’s stock valued at $486,895,000 after buying an additional 3,472,515 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Down 0.3%

NYSE:NKE opened at $45.06 on Wednesday. The firm has a market capitalization of $66.72 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. The stock has a 50 day moving average of $44.30 and a 200-day moving average of $55.14. NIKE, Inc. has a 52 week low of $41.35 and a 52 week high of $80.17. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $11.28 billion during the quarter, compared to analyst estimates of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The business’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 earnings per share. Analysts predict that NIKE, Inc. will post 1.49 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a dividend of $0.41 per share. The ex-dividend date is Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.6%. NIKE’s payout ratio is currently 108.61%.

Analysts Set New Price Targets

Several analysts recently weighed in on NKE shares. BTIG Research lowered their price objective on NIKE from $90.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Zacks Research lowered NIKE from a “hold” rating to a “strong sell” rating in a report on Monday, June 1st. DA Davidson lowered NIKE from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $72.00 to $46.00 in a report on Thursday, April 2nd. UBS Group set a $50.00 price objective on NIKE and gave the company a “neutral” rating in a report on Wednesday, June 10th. Finally, Jefferies Financial Group lowered their target price on NIKE from $110.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Fifteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, NIKE presently has an average rating of “Hold” and an average target price of $60.89.

Insider Buying and Selling at NIKE

In other NIKE news, CEO Elliott Hill acquired 23,660 shares of NIKE stock in a transaction dated Monday, April 13th. The stock was acquired at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the transaction, the chief executive officer owned 265,247 shares in the company, valued at approximately $11,211,990.69. This represents a 9.79% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Philip Mccartney sold 17,398 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the transaction, the executive vice president owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. This represents a 24.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders acquired 64,441 shares of company stock valued at $2,734,204. 0.80% of the stock is currently owned by insiders.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).