Nike Inc (NKE) Stake Lowered by Altshuler Shaham Ltd

Altshuler Shaham Ltd cut its holdings in Nike Inc (NYSE:NKE) by 1.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,101 shares of the footwear maker’s stock after selling 940 shares during the quarter. Nike accounts for 0.3% of Altshuler Shaham Ltd’s investment portfolio, making the stock its 29th largest position. Altshuler Shaham Ltd’s holdings in Nike were worth $5,863,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Nan Shan Life Insurance Co. Ltd. acquired a new stake in shares of Nike in the third quarter worth approximately $41,198,000. GFS Advisors LLC boosted its stake in Nike by 21.4% during the third quarter. GFS Advisors LLC now owns 22,564 shares of the footwear maker’s stock worth $1,912,000 after buying an additional 3,980 shares during the last quarter. Royal Bank of Scotland Group PLC boosted its stake in Nike by 13.8% during the third quarter. Royal Bank of Scotland Group PLC now owns 13,425 shares of the footwear maker’s stock worth $1,137,000 after buying an additional 1,625 shares during the last quarter. Credit Suisse AG boosted its stake in Nike by 6.8% during the third quarter. Credit Suisse AG now owns 3,719,280 shares of the footwear maker’s stock worth $315,098,000 after buying an additional 237,127 shares during the last quarter. Finally, Winslow Capital Management LLC boosted its stake in Nike by 22.0% during the third quarter. Winslow Capital Management LLC now owns 5,610,808 shares of the footwear maker’s stock worth $475,347,000 after buying an additional 1,010,275 shares during the last quarter. Institutional investors and hedge funds own 64.72% of the company’s stock.

NYSE:NKE opened at $71.49 on Monday. Nike Inc has a 52 week low of $58.54 and a 52 week high of $86.04. The company has a current ratio of 2.31, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $113.53 billion, a price-to-earnings ratio of 29.54, a price-to-earnings-growth ratio of 2.24 and a beta of 0.77.

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

The company also recently disclosed 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 dividend 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 payout ratio is currently 33.06%.

A number of equities analysts have weighed in on the company. Bank of America reissued a “sell” rating and set a $50.00 price objective on shares of Nike in a research note on Friday, September 21st. Stifel Nicolaus boosted their price objective on Nike from $90.00 to $96.00 and gave the stock a “buy” rating in a research note on Monday, September 24th. Goldman Sachs Group set a $81.00 price objective on Nike and gave the stock a “buy” rating in a research note on Thursday, September 20th. Pivotal Research set a $85.00 price objective on Nike and gave the stock a “hold” rating in a research note on Friday, September 21st. Finally, Barclays boosted their price objective on Nike to $100.00 and gave the stock an “overweight” rating in a research note on Friday, September 21st. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $85.74.

In related news, EVP Monique S. Matheson sold 17,000 shares of the business’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $83.15, for a total value of $1,413,550.00. Following the sale, the executive vice president now owns 104,737 shares in the company, valued at approximately $8,708,881.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Johnathan A. Rodgers sold 16,000 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $85.05, for a total value of $1,360,800.00. Following the completion of the sale, the director now owns 26,963 shares in the company, 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 worth $4,219,350 in the last quarter. Company insiders own 3.90% of the company’s stock.

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Nike Company Profile

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.

Further Reading: Fiduciary

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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