Kensington Investment Counsel LLC Has $1.18 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Kensington Investment Counsel LLC increased its holdings in NIKE, Inc. (NYSE:NKEGet Rating) by 1.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,766 shares of the footwear maker’s stock after purchasing an additional 91 shares during the period. Kensington Investment Counsel LLC’s holdings in NIKE were worth $1,180,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of NIKE by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 107,022,020 shares of the footwear maker’s stock worth $14,400,882,000 after acquiring an additional 662,243 shares in the last quarter. BlackRock Inc. lifted its holdings in NIKE by 0.6% in the 1st quarter. BlackRock Inc. now owns 90,518,050 shares of the footwear maker’s stock worth $12,180,110,000 after purchasing an additional 553,087 shares during the last quarter. State Street Corp boosted its position in NIKE by 3.6% during the fourth quarter. State Street Corp now owns 56,598,375 shares of the footwear maker’s stock worth $9,433,251,000 after purchasing an additional 1,969,270 shares during the period. Geode Capital Management LLC boosted its position in NIKE by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 21,444,116 shares of the footwear maker’s stock worth $3,564,786,000 after purchasing an additional 601,940 shares during the period. Finally, Norges Bank acquired a new position in NIKE during the fourth quarter valued at approximately $1,894,686,000. 64.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the stock. KGI Securities downgraded shares of NIKE from an “outperform” rating to a “neutral” rating in a report on Monday, May 23rd. HSBC decreased their target price on NIKE from $140.00 to $132.00 and set a “hold” rating for the company in a research note on Tuesday, June 14th. BNP Paribas lowered NIKE from an “outperform” rating to a “neutral” rating and set a $118.00 price target for the company. in a report on Tuesday, August 9th. Jefferies Financial Group set a $155.00 price objective on NIKE in a research report on Tuesday, June 28th. Finally, KeyCorp assumed coverage on shares of NIKE in a report on Wednesday, July 20th. They issued a “sector weight” rating for the company. Eleven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $137.12.

Insider Activity at NIKE

In other NIKE news, EVP Monique S. Matheson sold 30,000 shares of the firm’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $107.19, for a total transaction of $3,215,700.00. Following the transaction, the executive vice president now owns 60,330 shares in the company, valued at $6,466,772.70. The sale was disclosed in a document filed with the SEC, which is available through this link. In other NIKE news, COO Andrew Campion sold 5,922 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was 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 of the company’s stock, valued at approximately $8,539,958.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Monique S. Matheson sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $107.19, for a total transaction of $3,215,700.00. Following the transaction, the executive vice president now directly owns 60,330 shares of the company’s stock, valued at $6,466,772.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,593 shares of company stock worth $7,372,310. 0.40% of the stock is owned by insiders.

NIKE Stock Performance

Shares of NYSE:NKE opened at $110.97 on Friday. The stock has a market capitalization of $174.06 billion, a P/E ratio of 29.51, a P/E/G ratio of 2.30 and a beta of 1.03. The company has a current ratio of 2.63, a quick ratio of 1.84 and a debt-to-equity ratio of 0.58. NIKE, Inc. has a 1-year low of $99.53 and a 1-year high of $179.10. The business has a 50-day moving average price of $109.73 and a two-hundred day moving average price of $117.65.

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

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be paid a dividend of $0.305 per share. The ex-dividend date is Friday, September 2nd. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.10%. NIKE’s dividend payout ratio (DPR) is presently 32.45%.

NIKE declared that its board has authorized a share buyback plan on Monday, June 27th that authorizes the company to repurchase $18.00 billion in shares. This repurchase authorization authorizes the footwear maker to purchase up to 11% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

About NIKE

(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.

Further Reading

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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