NIKE, Inc. (NYSE:NKE) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 241,112 shares of the footwear maker’s stock after selling 6,344 shares during the quarter. Amalgamated Bank’s holdings in NIKE were worth $18,245,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of NKE. State Street Corp boosted its position in NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Wellington Management Group LLP boosted its position in NIKE by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after purchasing an additional 1,343,093 shares during the period. Geode Capital Management LLC boosted its position in NIKE by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after purchasing an additional 251,411 shares during the period. Bank of New York Mellon Corp boosted its position in NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after purchasing an additional 3,121,929 shares during the period. Finally, Fisher Asset Management LLC boosted its position in NIKE by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after purchasing an additional 583,207 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. DA Davidson upgraded NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Barclays reduced their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Bank of America dropped their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. JPMorgan Chase & Co. cut their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 target price on shares of NIKE in a research report on Wednesday, February 19th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.77.

NIKE Price Performance

Shares of NYSE:NKE opened at $80.32 on Tuesday. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $106.10. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average price of $74.37 and a 200 day moving average price of $78.21. The company has a market cap of $118.80 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 2.52 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the prior year, the firm posted $1.03 EPS. NIKE’s quarterly revenue was down 7.7% compared to the same quarter last year. Research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 1.99%. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

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.