Lecap Asset Management Ltd. Lowers Holdings in NIKE, Inc. (NYSE:NKE)

Lecap Asset Management Ltd. reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 24.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,454 shares of the footwear maker’s stock after selling 3,299 shares during the period. Lecap Asset Management Ltd.’s holdings in NIKE were worth $788,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NKE. Annapolis Financial Services LLC raised its stake in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares during the period. True Wealth Design LLC raised its position in shares of NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares during the period. Core Wealth Advisors Inc. boosted its holdings in NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after acquiring an additional 241 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in NIKE during the fourth quarter valued at about $33,000. Finally, Gold Investment Management Ltd. acquired a new stake in NIKE during the fourth quarter worth about $36,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Performance

NYSE:NKE traded up $0.41 during trading hours on Wednesday, reaching $83.97. 6,913,672 shares of the stock were exchanged, compared to its average volume of 11,499,273. The stock has a market capitalization of $126.74 billion, a P/E ratio of 22.51, a P/E/G ratio of 1.92 and a beta of 1.01. The firm has a 50 day simple moving average of $79.47 and a 200-day simple moving average of $90.47. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 EPS. As a group, sell-side analysts forecast that NIKE, Inc. will post 3.12 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.76%. NIKE’s payout ratio is currently 39.68%.

Analysts Set New Price Targets

NKE has been the topic of several research analyst reports. Stifel Nicolaus reaffirmed a “hold” rating and issued a $88.00 price objective (down from $117.00) on shares of NIKE in a research note on Friday, June 28th. Citigroup reduced their price target on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. HSBC dropped their price objective on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Evercore ISI reduced their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Finally, StockNews.com downgraded NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.59.

Insider Activity

In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Robert Holmes Swan bought 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

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.