GAM Holding AG Sells 45,798 Shares of NIKE, Inc. (NYSE:NKE)

GAM Holding AG reduced its holdings in NIKE, Inc. (NYSE:NKEFree Report) by 17.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 217,163 shares of the footwear maker’s stock after selling 45,798 shares during the quarter. NIKE makes up about 1.8% of GAM Holding AG’s portfolio, making the stock its 8th largest holding. GAM Holding AG’s holdings in NIKE were worth $23,577,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of NKE. Impact Partnership Wealth LLC boosted its holdings in NIKE by 220.7% in the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 181 shares during the last quarter. Iron Horse Wealth Management LLC lifted its position in shares of NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares during the period. Planned Solutions Inc. bought a new stake in shares of NIKE in the 4th quarter valued at $29,000. Financial Freedom LLC acquired a new stake in shares of NIKE during the fourth quarter worth $29,000. Finally, Worth Asset Management LLC bought a new position in NIKE during the first quarter worth $32,000. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Jefferies Financial Group decreased their price target on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Citigroup cut their price target on NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, March 14th. Robert W. Baird dropped their target price on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Wedbush reissued an “outperform” rating and set a $115.00 price objective on shares of NIKE in a research report on Wednesday, March 27th. Finally, Wells Fargo & Company decreased their target price on NIKE from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average price target of $116.52.

View Our Latest Analysis on NKE

NIKE Stock Performance

Shares of NKE stock traded down $0.62 during trading hours on Wednesday, hitting $90.33. 8,859,094 shares of the company were exchanged, compared to its average volume of 9,460,749. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $137.47 billion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 1.73 and a beta of 1.08. The firm has a fifty day simple moving average of $100.85 and a 200 day simple moving average of $103.57. NIKE, Inc. has a 52-week low of $88.66 and a 52-week high of $128.68.

NIKE (NYSE:NKEGet Free Report) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Research analysts predict that NIKE, Inc. will post 3.71 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a $0.37 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.48 annualized dividend and a dividend yield of 1.64%. NIKE’s payout ratio is 43.53%.

About NIKE

(Free Report)

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.

See Also

Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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