Dodge & Cox Acquires Shares of 1,700 NIKE, Inc. (NYSE:NKE)

Dodge & Cox bought a new position in shares of NIKE, Inc. (NYSE:NKE) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,700 shares of the footwear maker’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NKE. America First Investment Advisors LLC bought a new position in NIKE during the 1st quarter worth about $27,000. Tucker Asset Management LLC bought a new position in shares of NIKE during the first quarter valued at approximately $29,000. Financial Freedom LLC purchased a new position in NIKE during the fourth quarter valued at approximately $29,000. Ruedi Wealth Management Inc. bought a new position in NIKE in the fourth quarter worth approximately $30,000. Finally, Worth Asset Management LLC purchased a new stake in NIKE during the first quarter worth $32,000. Institutional investors own 63.42% of the company’s stock.

NIKE Trading Down 0.3 %

Shares of NKE opened at $97.67 on Monday. The firm’s fifty day moving average is $105.74 and its two-hundred day moving average is $113.46. The stock has a market cap of $149.43 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 1.73 and a beta of 1.12. The company has a quick ratio of 1.81, a current ratio of 2.72 and a debt-to-equity ratio of 0.64. NIKE, Inc. has a 52-week low of $82.22 and a 52-week high of $131.31.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.02). NIKE had a net margin of 9.90% and a return on equity of 34.01%. The business had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.58 billion. During the same period in the prior year, the company posted $0.90 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. Research analysts forecast that NIKE, Inc. will post 3.71 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $1.36 dividend on an annualized basis and a yield of 1.39%. NIKE’s payout ratio is 42.11%.

Analysts Set New Price Targets

NKE has been the subject of several recent research reports. Erste Group Bank reissued a “hold” rating on shares of NIKE in a research report on Friday. Barclays decreased their price target on shares of NIKE from $127.00 to $124.00 in a research report on Friday, June 30th. Stifel Nicolaus cut their price objective on shares of NIKE from $143.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, August 28th. UBS Group increased their target price on shares of NIKE from $145.00 to $150.00 in a research report on Friday, June 30th. Finally, KeyCorp started coverage on shares of NIKE in a report on Tuesday, July 25th. They issued a “sector weight” rating on the stock. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.28.

Insiders Place Their Bets

In other NIKE news, VP Johanna Nielsen sold 1,706 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $107.00, for a total value of $182,542.00. Following the completion of the sale, the vice president now directly owns 954 shares of the company’s stock, valued at approximately $102,078. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Monique S. Matheson sold 40,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $108.59, for a total value of $4,343,600.00. Following the completion of the transaction, the executive vice president now directly owns 44,736 shares in the company, valued at $4,857,882.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Johanna Nielsen sold 1,706 shares of NIKE stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $107.00, for a total value of $182,542.00. Following the completion of the sale, the vice president now owns 954 shares in the company, valued at approximately $102,078. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,251 shares of company stock valued at $17,063,257. Insiders own 0.50% of the company’s stock.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services 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.