NIKE, Inc. (NYSE:NKE) Shares Acquired by Covestor Ltd

Covestor Ltd grew its stake in NIKE, Inc. (NYSE:NKEGet Rating) by 103.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,878 shares of the footwear maker’s stock after purchasing an additional 954 shares during the quarter. Covestor Ltd’s holdings in NIKE were worth $253,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Alpha Paradigm Partners LLC acquired a new position in NIKE during the fourth quarter worth about $31,000. FNY Investment Advisers LLC acquired a new position in NIKE during the first quarter worth about $26,000. Antonetti Capital Management LLC boosted its position in NIKE by 900.0% during the first quarter. Antonetti Capital Management LLC now owns 200 shares of the footwear maker’s stock worth $27,000 after acquiring an additional 180 shares during the last quarter. Delos Wealth Advisors LLC boosted its position in NIKE by 90.4% during the fourth quarter. Delos Wealth Advisors LLC now owns 238 shares of the footwear maker’s stock worth $40,000 after acquiring an additional 113 shares during the last quarter. Finally, Rise Advisors LLC acquired a new position in NIKE during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 64.19% of the company’s stock.

Insiders Place Their Bets

In other NIKE news, COO Andrew Campion sold 5,922 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $113.42, for a total transaction of $671,673.24. Following the completion of the transaction, the chief operating officer now owns 75,295 shares in the company, valued at approximately $8,539,958.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Andrew Campion sold 5,922 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $113.42, for a total value of $671,673.24. Following the completion of the transaction, the chief operating officer now owns 75,295 shares in the company, valued at approximately $8,539,958.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John W. Rogers, Jr. bought 10,000 shares of the stock in a transaction dated Thursday, June 30th. The stock was bought at an average price of $102.96 per share, with a total value of $1,029,600.00. Following the acquisition, the director now owns 25,681 shares in the company, valued at approximately $2,644,115.76. The disclosure for this purchase can be found here. Insiders sold 68,593 shares of company stock worth $7,372,310 in the last 90 days. Corporate insiders own 0.40% of the company’s stock.

NIKE Price Performance

Shares of NKE opened at $108.73 on Friday. NIKE, Inc. has a fifty-two week low of $99.53 and a fifty-two week high of $179.10. The firm’s 50 day moving average price is $109.53 and its 200 day moving average price is $117.84. The company has a market cap of $170.55 billion, a P/E ratio of 28.92, a PEG ratio of 2.29 and a beta of 1.03. The company has a quick ratio of 1.84, a current ratio of 2.63 and a debt-to-equity ratio of 0.58.

NIKE (NYSE:NKEGet Rating) last posted its quarterly earnings results on Monday, June 27th. The footwear maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.81 by $0.09. NIKE had a net margin of 12.94% and a return on equity of 40.74%. The company had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $12.10 billion. During the same quarter in the previous year, the business posted $0.93 EPS. The firm’s revenue was down .8% on a year-over-year basis. On average, research analysts forecast that NIKE, Inc. will post 3.79 earnings per share for the current fiscal year.

NIKE declared that its Board of Directors has initiated a stock repurchase plan on Monday, June 27th that authorizes the company to repurchase $18.00 billion in shares. This repurchase authorization authorizes the footwear maker to buy up to 11% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be issued a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Friday, September 2nd. NIKE’s dividend payout ratio (DPR) is presently 32.45%.

Analyst Ratings Changes

NKE has been the topic of a number of recent research reports. Exane BNP Paribas lowered shares of NIKE from an “outperform” rating to a “neutral” rating and set a $118.00 price target on the stock. in a research report on Tuesday, August 9th. Telsey Advisory Group lowered their price target on shares of NIKE from $140.00 to $130.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 28th. Credit Suisse Group set a $130.00 target price on shares of NIKE in a report on Wednesday, June 29th. KGI Securities lowered shares of NIKE from an “outperform” rating to a “neutral” rating in a report on Monday, May 23rd. Finally, JPMorgan Chase & Co. set a $130.00 target price on shares of NIKE in a report on Wednesday, August 10th. Eleven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $137.46.

NIKE Profile

(Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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