Generali Powszechne Towarzystwo Emerytalne bought a new stake in shares of NIKE, Inc. (NYSE:NKE – Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 251,850 shares of the footwear maker’s stock, valued at approximately $13,303,000. NIKE makes up approximately 2.4% of Generali Powszechne Towarzystwo Emerytalne’s holdings, making the stock its 21st largest holding.
Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of NIKE during the first quarter worth $311,000. United Bank grew its holdings in shares of NIKE by 11.3% during the second quarter. United Bank now owns 17,067 shares of the footwear maker’s stock valued at $1,212,000 after buying an additional 1,736 shares during the last quarter. NewEdge Advisors LLC grew its holdings 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 valued at $4,558,000 after buying an additional 197 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of NIKE by 6.5% in the 2nd quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock valued at $13,588,000 after acquiring an additional 11,646 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.
Insider Activity
In other news, CEO Elliott Hill bought 23,660 shares of the firm’s stock in a transaction that occurred on Monday, April 13th. The stock was purchased at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the purchase, the chief executive officer directly owned 265,247 shares in the company, valued at approximately $11,211,990.69. This trade represents a 9.79% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Holmes Swan purchased 11,781 shares of the stock in a transaction that occurred on Tuesday, April 7th. The shares were purchased at an average cost of $42.44 per share, for a total transaction of $499,985.64. Following the completion of the acquisition, the director directly owned 55,074 shares of the company’s stock, valued at $2,337,340.56. This represents a 27.21% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is currently owned by corporate insiders.
NIKE Stock Performance
NIKE (NYSE:NKE – Get Free Report) last posted its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The firm had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period last year, the company earned $0.54 earnings per share. NIKE’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities analysts expect that NIKE, Inc. will post 1.49 EPS for the current year.
NIKE Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s payout ratio is 108.61%.
Analysts Set New Price Targets
A number of analysts have commented on the company. BTIG Research reaffirmed a “buy” rating and set a $55.00 price target (down from $75.00) on shares of NIKE in a research report on Thursday. Deutsche Bank Aktiengesellschaft cut their price objective on NIKE from $54.00 to $51.00 and set a “hold” rating on the stock in a report on Wednesday, April 1st. Zacks Research cut NIKE from a “hold” rating to a “strong sell” rating in a research note on Monday, June 1st. Citigroup reiterated a “neutral” rating on shares of NIKE in a research report on Wednesday. Finally, DA Davidson downgraded shares of NIKE from a “buy” rating to a “neutral” rating and cut their price target for the stock from $72.00 to $46.00 in a report on Thursday, April 2nd. Thirteen analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, NIKE currently has an average rating of “Hold” and an average price target of $59.40.
Check Out Our Latest Report on NKE
NIKE News Roundup
Here are the key news stories impacting NIKE this week:
- Neutral Sentiment: Wells Fargo gave Nike a Hold rating, reflecting a cautious stance ahead of earnings. Wells Fargo Gives a Hold Rating to Nike (NKE)
- Positive Sentiment: Sanford C. Bernstein reaffirmed a Buy rating, suggesting some analysts still see upside despite the turnaround challenges. Nike Inc. Receives a Buy Rating from Bernstein
- Neutral Sentiment: Upcoming fourth-quarter earnings and guidance are the main catalyst, with investors watching whether Nike’s “Win Now” strategy is starting to improve results. Nike Wants to Make a Comeback. Should You Buy the Stock Before June 30?
- Negative Sentiment: A reported plan to restrict Chinese distributors’ online sales was criticized as a strategic mistake, raising concern about Nike’s China strategy and future growth. NKE Stock Slips On China Business Strategy Misstep And Surprise CFO Change Before Earnings
- Negative Sentiment: Nike’s surprise CFO transition is adding uncertainty, with analysts warning that the turnaround may take several more quarters to show clear progress. Nike’s New CFO Won’t Speed Up Its Turnaround
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).
Further Reading
- Five stocks we like better than NIKE
- MDA Space Targets US Defense Market With $620M Acquisition
- Carnival’s Second Quarter: Is the Stock Still Complicated?
- Domino’s Stock Slides to 52-Week Low as Investors Digest CEO Change
- Microsoft Solves AI’s Biggest Bottleneck With Chevron Deal
Receive News & Ratings for NIKE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIKE and related companies with MarketBeat.com's FREE daily email newsletter.
