Trade Report: The Royal London Asset Management Ltd. cuts position of Nike Inc. (NKE)

The Royal London Asset Management Ltd. cuts position of Nike Inc. (NKE)

Royal London Asset Management Ltd. decreased its position in shares of Nike Inc. (NYSE:NKE) by 97.8% during the second quarter, Holdings Channel reports. The firm owned 371,645 shares of the footwear maker’s stock after selling 16,225,507 shares during the period. Royal London Asset Management Ltd.’s holdings in Nike were worth $20,517,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of NKE. Wellington Management Group LLP boosted its position in shares of Nike by 92.6% in the first quarter. Wellington Management Group LLP now owns 27,329,360 shares of the footwear maker’s stock worth $1,679,937,000 after buying an additional 13,136,502 shares during the period. Geode Capital Management LLC boosted its position in shares of Nike by 5.7% in the first quarter. Geode Capital Management LLC now owns 11,593,721 shares of the footwear maker’s stock worth $711,300,000 after buying an additional 628,853 shares during the period. Alecta Pensionsforsakring Omsesidigt boosted its position in shares of Nike by 161.5% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,210,000 shares of the footwear maker’s stock worth $232,392,000 after buying an additional 2,600,000 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Nike by 0.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,939,292 shares of the footwear maker’s stock worth $217,449,000 after buying an additional 14,715 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Nike by 5.8% in the second quarter. American Century Companies Inc. now owns 3,829,458 shares of the footwear maker’s stock worth $211,386,000 after buying an additional 211,228 shares during the period. 62.08% of the stock is owned by institutional investors.

Nike Inc. (NYSE:NKE) traded up 0.25% on Friday, hitting $52.02. 9,096,719 shares of the stock were exchanged. Nike Inc. has a 52-week low of $50.71 and a 52-week high of $68.19. The stock’s 50 day moving average price is $53.14 and its 200 day moving average price is $55.86. The firm has a market cap of $86.64 billion, a PE ratio of 23.47 and a beta of 0.56.

Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.17. Nike had a net margin of 11.60% and a return on equity of 30.56%. The firm had revenue of $9.06 billion for the quarter. During the same period in the prior year, the business posted $1.34 EPS. Nike’s revenue was up 7.7% compared to the same quarter last year. Equities research analysts forecast that Nike Inc. will post $2.37 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Tuesday, September 6th were paid a $0.16 dividend. The ex-dividend date was Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a yield of 1.23%. Nike’s dividend payout ratio is currently 28.83%.

Several research analysts have issued reports on the stock. Deutsche Bank AG reaffirmed a “buy” rating on shares of Nike in a report on Sunday, July 17th. B. Riley reaffirmed a “buy” rating and issued a $62.00 target price on shares of Nike in a report on Saturday, July 2nd. Vetr raised shares of Nike from a “sell” rating to a “hold” rating and set a $54.01 target price for the company in a report on Wednesday, August 3rd. Zacks Investment Research raised shares of Nike from a “sell” rating to a “hold” rating in a report on Thursday, September 1st. Finally, Brean Capital reaffirmed a “hold” rating on shares of Nike in a report on Tuesday, October 18th. Eleven research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Nike currently has a consensus rating of “Buy” and an average target price of $64.11.

In related news, Director John C. Lechleiter purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 30th. The shares were purchased at an average price of $52.72 per share, with a total value of $52,720.00. Following the purchase, the director now owns 27,560 shares of the company’s stock, valued at $1,452,963.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.90% of the stock is currently owned by corporate insiders.

About Nike

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company sells its products to retail accounts, through NIKE-owned retail stores and Internet Websites (which the Company refers to as its Direct to Consumer or DTC operations), and through a mix of independent distributors and licensees throughout the world.

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