Baldwin Investment Management LLC Decreases Position in Nike Inc (NKE)

Baldwin Investment Management LLC cut its stake in Nike Inc (NYSE:NKE) by 4.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,973 shares of the footwear maker’s stock after selling 1,550 shares during the quarter. Nike makes up approximately 0.8% of Baldwin Investment Management LLC’s portfolio, making the stock its 11th largest holding. Baldwin Investment Management LLC’s holdings in Nike were worth $2,624,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NKE. Fuller & Thaler Asset Management Inc. purchased a new position in Nike in the 2nd quarter worth approximately $104,000. BDO Wealth Advisors LLC lifted its stake in Nike by 1,044.3% in the 2nd quarter. BDO Wealth Advisors LLC now owns 1,396 shares of the footwear maker’s stock worth $111,000 after purchasing an additional 1,274 shares in the last quarter. Stelac Advisory Services LLC purchased a new position in Nike in the 3rd quarter worth approximately $115,000. CSat Investment Advisory L.P. purchased a new position in Nike in the 2nd quarter worth approximately $119,000. Finally, Polaris Greystone Financial Group LLC purchased a new position in Nike in the 3rd quarter worth approximately $119,000. 64.72% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Monique S. Matheson sold 17,000 shares of Nike stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $85.00, for a total value of $1,445,000.00. Following the completion of the sale, the executive vice president now owns 104,737 shares in the company, valued at approximately $8,902,645. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $85.05, for a total transaction of $1,360,800.00. Following the completion of the sale, the director now owns 26,963 shares of the company’s stock, valued at approximately $2,293,203.15. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock valued at $4,219,350 in the last quarter. 3.90% of the stock is owned by insiders.

NKE stock opened at $71.49 on Friday. The company has a market cap of $114.93 billion, a PE ratio of 29.54, a PEG ratio of 2.26 and a beta of 0.77. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.53 and a current ratio of 2.31. Nike Inc has a one year low of $58.54 and a one year high of $86.04.

Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.04. Nike had a net margin of 5.57% and a return on equity of 40.69%. The firm had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.92 billion. During the same quarter last year, the firm earned $0.57 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. Analysts forecast that Nike Inc will post 2.62 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.23%. The ex-dividend date is Friday, November 30th. This is an increase from Nike’s previous quarterly dividend of $0.20. Nike’s dividend payout ratio (DPR) is 33.06%.

A number of research firms have weighed in on NKE. HSBC reissued a “neutral” rating and issued a $92.00 target price on shares of Nike in a research note on Wednesday, October 3rd. Morgan Stanley set a $88.00 target price on shares of Nike and gave the stock a “buy” rating in a research note on Wednesday, September 19th. Daiwa Capital Markets set a $85.00 target price on shares of Nike and gave the stock a “hold” rating in a research note on Monday, October 1st. Robert W. Baird reissued a “buy” rating and issued a $94.00 target price on shares of Nike in a research note on Monday, November 19th. Finally, Bank of America raised their target price on shares of Nike from $50.00 to $55.00 and gave the stock an “underperform” rating in a research note on Wednesday, September 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-four have issued a buy rating to the company. Nike has a consensus rating of “Buy” and an average target price of $85.74.

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About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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