NIKE, Inc. $NKE Shares Acquired by Sustainable Growth Advisers LP

Sustainable Growth Advisers LP lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,789,888 shares of the footwear maker’s stock after purchasing an additional 62,483 shares during the quarter. NIKE accounts for approximately 1.2% of Sustainable Growth Advisers LP’s investment portfolio, making the stock its 28th biggest holding. Sustainable Growth Advisers LP’s holdings in NIKE were worth $177,744,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NKE. Brighton Jones LLC lifted its stake in shares of NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after buying an additional 160,980 shares during the period. Caxton Associates LLP acquired a new stake in shares of NIKE during the first quarter worth $311,000. United Bank lifted its stake in shares of NIKE by 11.3% during the second quarter. United Bank now owns 17,067 shares of the footwear maker’s stock worth $1,212,000 after buying an additional 1,736 shares during the period. NewEdge Advisors LLC lifted its stake in shares of NIKE by 0.3% during the second quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock worth $4,558,000 after buying an additional 197 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in shares of NIKE by 6.5% during the second quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock worth $13,588,000 after buying an additional 11,646 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Timothy D. Cook acquired 25,000 shares of the business’s stock in a transaction on Friday, April 10th. The stock was bought at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the completion of the acquisition, the director owned 130,480 shares of the company’s stock, valued at approximately $5,536,266.40. This represents a 23.70% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Elliott Hill acquired 23,660 shares of the business’s stock in a transaction on Monday, April 13th. The stock was purchased at an average cost of $42.27 per share, with a total value of $1,000,108.20. Following the acquisition, the chief executive officer directly owned 265,247 shares of the company’s stock, valued at $11,211,990.69. This represents a 9.79% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 64,441 shares of company stock worth $2,734,204 over the last three months. Corporate insiders own 0.80% of the company’s stock.

NIKE Stock Down 0.7%

NKE opened at $45.93 on Tuesday. NIKE, Inc. has a fifty-two week low of $41.35 and a fifty-two week high of $80.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. The company has a fifty day moving average of $45.60 and a two-hundred day moving average of $56.61. The stock has a market capitalization of $68.01 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 2.45 and a beta of 1.12.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The company had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter in the previous year, the company earned $0.54 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. On average, research analysts expect that NIKE, Inc. will post 1.51 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.6%. NIKE’s payout ratio is presently 108.61%.

Wall Street Analyst Weigh In

Several research firms have recently commented on NKE. Evercore lowered their price objective on shares of NIKE from $69.00 to $57.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Citigroup decreased their target price on shares of NIKE from $65.00 to $53.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Jefferies Financial Group decreased their target price on shares of NIKE from $110.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Sanford C. Bernstein restated a “buy” rating on shares of NIKE in a research report on Monday, May 11th. Finally, DZ Bank restated a “buy” rating on shares of NIKE in a research report on Tuesday, April 21st. Sixteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, NIKE has a consensus rating of “Hold” and an average target price of $62.04.

NIKE Company Profile

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).