NIKE, Inc. (NYSE:NKE) Shares Bought by Cooper Financial Group

Cooper Financial Group boosted its stake in shares of NIKE, Inc. (NYSE:NKEGet Rating) by 223.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,152 shares of the footwear maker’s stock after buying an additional 3,558 shares during the period. Cooper Financial Group’s holdings in NIKE were worth $527,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of NIKE in the 4th quarter valued at $1,894,686,000. State Street Corp lifted its stake in shares of NIKE by 3.6% in the 4th quarter. State Street Corp now owns 56,598,375 shares of the footwear maker’s stock valued at $9,433,251,000 after purchasing an additional 1,969,270 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of NIKE by 9.0% in the 1st quarter. Wellington Management Group LLP now owns 18,040,233 shares of the footwear maker’s stock valued at $2,427,495,000 after purchasing an additional 1,486,421 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of NIKE by 221.5% in the 1st quarter. Lazard Asset Management LLC now owns 2,046,445 shares of the footwear maker’s stock valued at $275,368,000 after purchasing an additional 1,409,913 shares during the last quarter. Finally, Capital International Investors lifted its stake in shares of NIKE by 16.8% in the 4th quarter. Capital International Investors now owns 8,852,183 shares of the footwear maker’s stock valued at $1,475,513,000 after purchasing an additional 1,274,615 shares during the last quarter. Institutional investors and hedge funds own 64.19% of the company’s stock.

Analyst Ratings Changes

NKE has been the topic of several research analyst reports. Barclays cut their price objective on NIKE from $140.00 to $125.00 and set an “overweight” rating on the stock in a report on Wednesday, June 29th. Wedbush cut their price objective on NIKE from $130.00 to $121.00 in a report on Friday, September 9th. Cowen cut their price objective on NIKE from $127.00 to $124.00 and set an “outperform” rating on the stock in a report on Monday, September 12th. JPMorgan Chase & Co. set a $130.00 price objective on NIKE in a report on Wednesday, August 10th. Finally, Exane BNP Paribas downgraded NIKE from an “outperform” rating to a “neutral” rating and set a $118.00 price objective on the stock. in a report on Tuesday, August 9th. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $136.42.

Insider Buying and Selling at NIKE

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 transaction, the chief operating officer now directly owns 75,295 shares of the company’s stock, valued at $8,539,958.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Andrew Campion sold 5,922 shares of the 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 completion of the transaction, the chief operating officer now owns 75,295 shares of the company’s stock, valued at $8,539,958.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Rogers, Jr. acquired 10,000 shares of the company’s stock in a transaction dated Thursday, June 30th. The shares were purchased at an average cost of $102.96 per share, with a total value of $1,029,600.00. Following the acquisition, the director now owns 25,681 shares of the company’s stock, valued at approximately $2,644,115.76. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 59,561 shares of company stock valued at $6,374,094. Corporate insiders own 0.40% of the company’s stock.

NIKE Stock Performance

NYSE NKE opened at $104.12 on Monday. NIKE, Inc. has a 1-year low of $99.53 and a 1-year high of $179.10. The company has a market capitalization of $163.32 billion, a P/E ratio of 27.69, a PEG ratio of 2.21 and a beta of 1.03. The business has a 50 day moving average price of $109.90 and a 200 day moving average price of $116.50. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.63 and a quick ratio of 1.84.

NIKE (NYSE:NKEGet Rating) last issued its earnings results on Monday, June 27th. The footwear maker reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. NIKE had a return on equity of 40.74% and a net margin of 12.94%. The firm had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $12.10 billion. During the same quarter last year, the firm earned $0.93 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. Sell-side analysts expect that NIKE, Inc. will post 3.78 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be given a $0.305 dividend. The ex-dividend date is Friday, September 2nd. This represents a $1.22 dividend on an annualized basis and a yield of 1.17%. NIKE’s dividend payout ratio (DPR) is 32.45%.

NIKE announced that its board has approved a share buyback plan on Monday, June 27th that permits the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization permits the footwear maker to repurchase up to 11% of its shares through open market purchases. Shares repurchase plans are generally an indication 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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