Pensioenfonds Rail & OV Cuts Holdings in NIKE, Inc. (NYSE:NKE)

Pensioenfonds Rail & OV lowered its holdings in NIKE, Inc. (NYSE:NKE) by 23.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 328,407 shares of the footwear maker’s stock after selling 102,772 shares during the quarter. Pensioenfonds Rail & OV’s holdings in NIKE were worth $30,985,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NKE. Capital International Investors boosted its position in shares of NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after purchasing an additional 7,143,775 shares during the period. Price T Rowe Associates Inc. MD increased its stake in NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares in the last quarter. Norges Bank purchased a new position in NIKE in the 4th quarter valued at approximately $1,315,097,000. Fisher Asset Management LLC increased its stake in NIKE by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock valued at $1,073,515,000 after purchasing an additional 219,091 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in NIKE by 18.3% in the 3rd quarter. American Century Companies Inc. now owns 5,620,466 shares of the footwear maker’s stock valued at $537,429,000 after purchasing an additional 870,423 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Robert W. Baird dropped their price objective on NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Oppenheimer raised NIKE from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $110.00 to $120.00 in a research report on Friday, June 21st. Sanford C. Bernstein decreased their price objective on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Jefferies Financial Group decreased their price objective on NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 target price (down previously from $110.00) on shares of NIKE in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $114.81.

NIKE Stock Performance

NKE stock traded down $0.69 during mid-day trading on Wednesday, reaching $94.06. 9,718,438 shares of the stock traded hands, compared to its average volume of 9,191,515. 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 52 week low of $88.66 and a 52 week high of $123.39. The business has a 50-day moving average of $93.71 and a two-hundred day moving average of $99.52. The firm has a market capitalization of $141.97 billion, a PE ratio of 27.67, a P/E/G ratio of 1.80 and a beta of 1.05.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is 43.53%.

Insider Buying and Selling at NIKE

In related news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Insiders sold 213,660 shares of company stock worth $19,946,333 over the last ninety days. Company insiders own 0.50% of the company’s stock.

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.