NIKE, Inc. $NKE Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp grew its holdings in NIKE, Inc. (NYSE:NKE) by 3.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 602,915 shares of the footwear maker’s stock after buying an additional 22,781 shares during the quarter. Fifth Third Bancorp’s holdings in NIKE were worth $42,041,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State of New Jersey Common Pension Fund D lifted its holdings in NIKE by 3.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 413,367 shares of the footwear maker’s stock valued at $28,824,000 after purchasing an additional 12,796 shares in the last quarter. Hardy Reed LLC raised its position in shares of NIKE by 3.9% during the 3rd quarter. Hardy Reed LLC now owns 5,990 shares of the footwear maker’s stock worth $418,000 after purchasing an additional 227 shares during the last quarter. Troy Asset Management Ltd lifted its stake in NIKE by 23.6% in the 3rd quarter. Troy Asset Management Ltd now owns 446,849 shares of the footwear maker’s stock valued at $31,159,000 after buying an additional 85,330 shares in the last quarter. Cidel Asset Management Inc. boosted its holdings in NIKE by 4.7% in the 3rd quarter. Cidel Asset Management Inc. now owns 8,515 shares of the footwear maker’s stock worth $594,000 after buying an additional 385 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp increased its stake in NIKE by 8.7% during the 3rd quarter. Murphy & Mullick Capital Management Corp now owns 3,445 shares of the footwear maker’s stock worth $234,000 after buying an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In related news, Director Timothy D. Cook bought 50,000 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were bought at an average price of $58.97 per share, with a total value of $2,948,500.00. Following the completion of the transaction, the director directly owned 105,480 shares of the company’s stock, valued at $6,220,155.60. This represents a 90.12% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Holmes Swan purchased 8,691 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were bought at an average price of $57.54 per share, with a total value of $500,080.14. Following the completion of the transaction, the director owned 43,293 shares of the company’s stock, valued at approximately $2,491,079.22. The trade was a 25.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 75,079 shares of company stock valued at $4,449,887. 0.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NKE. Citigroup restated a “neutral” rating and issued a $65.00 target price (down previously from $70.00) on shares of NIKE in a research report on Friday, December 19th. Robert W. Baird decreased their price objective on NIKE from $93.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday, December 19th. Weiss Ratings raised shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. Williams Trading reduced their target price on shares of NIKE from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, December 19th. Finally, Stifel Nicolaus set a $65.00 price target on shares of NIKE and gave the stock a “hold” rating in a research note on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.61.

NIKE Stock Up 3.2%

Shares of NYSE NKE opened at $63.07 on Tuesday. The company has a 50 day simple moving average of $63.53 and a 200-day simple moving average of $67.63. The company has a market capitalization of $93.37 billion, a P/E ratio of 37.10, a P/E/G ratio of 3.23 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.06 and a quick ratio of 1.40. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.19 billion. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 earnings per share. On average, equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.41 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.6%. NIKE’s dividend payout ratio is currently 96.47%.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).