Mmbg Investment Advisors CO. Sells 1,144 Shares of NIKE, Inc. (NYSE:NKE)

Mmbg Investment Advisors CO. cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 3.0% during the fourth quarter, HoldingsChannel reports. The firm owned 37,172 shares of the footwear maker’s stock after selling 1,144 shares during the quarter. Mmbg Investment Advisors CO.’s holdings in NIKE were worth $2,813,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in NKE. Wellington Management Group LLP lifted its position in NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after acquiring an additional 8,898,591 shares during the last quarter. Geode Capital Management LLC grew its position in NIKE by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock worth $1,915,110,000 after buying an additional 347,178 shares during the last quarter. Capital World Investors grew its position in NIKE by 10.3% in the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock worth $1,857,389,000 after acquiring an additional 2,288,627 shares in the last quarter. Bank of New York Mellon Corp increased its stake in NIKE by 18.1% during the fourth 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 acquiring an additional 3,121,929 shares during the period. Finally, Norges Bank acquired a new stake in NIKE in the 4th quarter valued at about $1,126,288,000. 64.25% of the stock is owned by institutional investors.

NIKE Price Performance

Shares of NYSE NKE opened at $58.35 on Monday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04. The company has a 50 day moving average of $62.52 and a 200 day moving average of $71.20. The firm has a market cap of $86.31 billion, a P/E ratio of 18.01, a PEG ratio of 2.52 and a beta of 1.23.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The business had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue was down 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 earnings per share. As a group, research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.74%. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NKE shares. The Goldman Sachs Group cut their price objective on NIKE from $88.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Telsey Advisory Group lowered their price objective on shares of NIKE from $80.00 to $70.00 and set a “market perform” rating for the company in a research note on Tuesday, May 6th. Williams Trading dropped their target price on shares of NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a report on Monday, April 21st. Cfra Research raised NIKE to a “moderate buy” rating in a report on Friday, March 21st. Finally, Stifel Nicolaus lowered their price target on NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Seventeen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.48.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan purchased 8,600 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now directly owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company 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.