Ensign Peak Advisors Inc lowered its position in shares of NIKE, Inc. (NYSE:NKE – Get Rating) by 3.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,755,711 shares of the footwear maker’s stock after selling 66,426 shares during the period. Ensign Peak Advisors Inc owned about 0.11% of NIKE worth $236,248,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of NIKE by 0.6% during the first quarter. Vanguard Group Inc. now owns 107,022,020 shares of the footwear maker’s stock worth $14,400,882,000 after buying an additional 662,243 shares during the last quarter. BlackRock Inc. grew its holdings in shares of NIKE by 0.6% during the first quarter. BlackRock Inc. now owns 90,518,050 shares of the footwear maker’s stock worth $12,180,110,000 after buying an additional 553,087 shares during the last quarter. State Street Corp grew its holdings in shares of 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 buying an additional 1,969,270 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 buying an additional 601,940 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of NIKE by 9.0% during the first quarter. Wellington Management Group LLP now owns 18,040,233 shares of the footwear maker’s stock worth $2,427,495,000 after buying an additional 1,486,421 shares during the last quarter. Hedge funds and other institutional investors own 64.19% of the company’s stock.
NIKE Trading Up 1.3 %
Shares of NKE opened at $112.38 on Tuesday. The stock has a fifty day moving average of $109.73 and a two-hundred day moving average of $117.38. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.84 and a current ratio of 2.63. The company has a market capitalization of $176.27 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. NIKE, Inc. has a fifty-two week low of $99.53 and a fifty-two week high of $179.10.
NIKE announced that its Board of Directors has authorized a share repurchase program on Monday, June 27th that allows the company to buyback $18.00 billion in shares. This buyback authorization allows the footwear maker to repurchase up to 11% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
NIKE Announces Dividend
The firm 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 $0.305 dividend. The ex-dividend date of this dividend is Friday, September 2nd. This represents a $1.22 annualized dividend and a yield of 1.09%. NIKE’s dividend payout ratio (DPR) is presently 32.45%.
Insider Buying and Selling at NIKE
In related news, Director John W. Rogers, Jr. acquired 10,000 shares of the stock in a transaction dated Thursday, June 30th. The stock was bought at an average cost of $102.96 per share, with a total value of $1,029,600.00. Following the purchase, the director now directly owns 25,681 shares of the company’s stock, valued at $2,644,115.76. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Matthew Friend sold 4,139 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $113.42, for a total transaction of $469,445.38. Following the completion of the sale, the chief financial officer now directly owns 56,539 shares of the company’s stock, valued at approximately $6,412,653.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John W. Rogers, Jr. acquired 10,000 shares of the stock in a transaction dated Thursday, June 30th. The shares were bought at an average cost of $102.96 per share, with a total value of $1,029,600.00. Following the completion of the purchase, the director now directly owns 25,681 shares in the company, valued at $2,644,115.76. The disclosure for this purchase can be found here. In the last three months, insiders sold 59,561 shares of company stock worth $6,374,094. Insiders own 0.40% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on NKE shares. The Goldman Sachs Group lowered their price target on NIKE from $155.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. Exane BNP Paribas lowered 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. Seaport Res Ptn lowered NIKE from a “buy” rating to a “neutral” rating in a report on Wednesday, June 22nd. HSBC lowered their price objective on NIKE from $140.00 to $132.00 and set a “hold” rating on the stock in a report on Tuesday, June 14th. Finally, Jefferies Financial Group set a $155.00 price objective on NIKE in a report on Tuesday, June 28th. Eleven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.42.
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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