Engineers Gate Manager LP Invests $5.49 Million in NIKE, Inc. (NYSE:NKE)

Engineers Gate Manager LP bought a new stake in NIKE, Inc. (NYSE:NKEGet Rating) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 40,802 shares of the footwear maker’s stock, valued at approximately $5,490,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FNY Investment Advisers LLC purchased a new stake in NIKE in the 1st quarter valued at approximately $26,000. Antonetti Capital Management LLC lifted its stake in NIKE by 900.0% in the 1st quarter. Antonetti Capital Management LLC now owns 200 shares of the footwear maker’s stock valued at $27,000 after buying an additional 180 shares in the last quarter. Alpha Paradigm Partners LLC acquired a new position in NIKE in the 4th quarter valued at $31,000. Worth Asset Management LLC acquired a new stake in shares of NIKE during the 1st quarter worth $32,000. Finally, Mark Sheptoff Financial Planning LLC increased its holdings in NIKE by 6,250.0% in the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 254 shares of the footwear maker’s stock valued at $34,000 after purchasing an additional 250 shares in the last quarter. 64.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NKE has been the topic of several research reports. Cowen dropped their price objective on shares of NIKE from $139.00 to $133.00 and set an “outperform” rating on the stock in a research note on Thursday, June 23rd. Telsey Advisory Group decreased their target price on shares of NIKE from $140.00 to $130.00 and set an “outperform” rating for the company in a research note on Tuesday, June 28th. Robert W. Baird cut their price target on shares of NIKE from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Tuesday, June 28th. Credit Suisse Group set a $130.00 target price on shares of NIKE in a research report on Wednesday, June 29th. Finally, Wedbush dropped their target price on shares of NIKE from $130.00 to $121.00 in a research note on Friday. Eleven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.12.

Insider Buying and Selling at NIKE

In other news, CFO Matthew Friend sold 9,032 shares of the company’s stock in a transaction on Monday, June 13th. The stock was sold at an average price of $110.52, for a total transaction of $998,216.64. Following the completion of the sale, the chief financial officer now directly owns 51,581 shares in the company, valued at approximately $5,700,732.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other NIKE news, COO Andrew Campion sold 5,922 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $113.42, for a total value of $671,673.24. Following the transaction, the chief operating officer now owns 75,295 shares of the company’s stock, valued at $8,539,958.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew Friend sold 9,032 shares of the firm’s stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $110.52, for a total transaction of $998,216.64. Following the completion of the sale, the chief financial officer now owns 51,581 shares in the company, valued at approximately $5,700,732.12. The disclosure for this sale can be found here. In the last three months, insiders sold 68,593 shares of company stock worth $7,372,310. Insiders own 0.40% of the company’s stock.

NIKE Trading Up 2.1 %

NYSE:NKE opened at $110.97 on Friday. The firm has a market cap of $174.06 billion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. The stock has a fifty day moving average price of $109.73 and a 200 day moving average price of $117.51. NIKE, Inc. has a 12-month low of $99.53 and a 12-month high of $179.10. 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 (NYSE:NKEGet Rating) last posted its earnings results on Monday, June 27th. The footwear maker reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. The business had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $12.10 billion. NIKE had a return on equity of 40.74% and a net margin of 12.94%. The business’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.93 earnings per share. Sell-side analysts anticipate that NIKE, Inc. will post 3.78 earnings per share for the current fiscal year.

NIKE Announces Dividend

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

NIKE declared that its board has approved a share repurchase program on Monday, June 27th that permits the company to repurchase $18.00 billion in shares. This repurchase authorization permits the footwear maker to reacquire up to 11% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

NIKE Company 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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