UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $261.43 Million Stake in NIKE, Inc. $NKE

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in NIKE, Inc. (NYSE:NKE) by 8.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 6,368,490 shares of the footwear maker’s stock after selling 605,299 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in NIKE were worth $261,427,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Scarborough Advisors LLC acquired a new stake in NIKE in the first quarter worth $25,000. Cornerstone Financial Management LLC bought a new position in shares of NIKE in the fourth quarter valued at approximately $26,000. Sankala Group LLC bought a new position in NIKE during the 4th quarter valued at $26,000. Meeder Asset Management Inc. lifted its position in shares of NIKE by 108.4% during the first quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock valued at $29,000 after purchasing an additional 285 shares in the last quarter. Finally, J.Safra Asset Management Corp purchased a new position in shares of NIKE in the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Transactions at NIKE

In related news, insider Amy Montagne sold 4,867 shares of NIKE stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $42.05, for a total transaction of $204,657.35. Following the sale, the insider directly owned 57,436 shares in the company, valued at $2,415,183.80. The trade was a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matthew Friend sold 2,463 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total transaction of $102,460.80. Following the sale, the chief financial officer owned 82,165 shares in the company, valued at approximately $3,418,064. This trade represents a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 26,142 shares of company stock worth $1,169,380. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Zacks Research upgraded shares of NIKE from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 19th. BNP Paribas Exane reiterated an “underperform” rating on shares of NIKE in a research note on Wednesday, July 22nd. Evercore set a $46.00 price target on NIKE and gave the company an “in-line” rating in a research report on Tuesday, June 23rd. CICC Research lowered their price objective on NIKE from $58.00 to $44.80 and set a “neutral” rating on the stock in a research report on Thursday, July 2nd. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $68.00 target price (down from $72.00) on shares of NIKE in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $52.94.

NIKE Price Performance

NKE stock opened at $39.09 on Tuesday. The firm’s 50-day moving average price is $41.82 and its two-hundred day moving average price is $46.84. The stock has a market capitalization of $57.99 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 1.76 and a beta of 1.11. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. NIKE, Inc. has a 12-month low of $38.17 and a 12-month high of $79.13.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.85 billion. During the same quarter last year, the business posted $0.14 EPS. The business’s revenue was down 1.1% on a year-over-year basis. As a group, equities analysts predict that NIKE, Inc. will post 1.74 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a $0.41 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 annualized dividend and a yield of 4.2%. NIKE’s dividend payout ratio (DPR) is 78.47%.

NIKE Company 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).