NIKE, Inc. $NKE Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its stake in NIKE, Inc. (NYSE:NKE) by 14.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 98,545 shares of the footwear maker’s stock after acquiring an additional 12,795 shares during the period. QRG Capital Management Inc.’s holdings in NIKE were worth $5,205,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of NKE. Vanguard Group Inc. raised its holdings in shares of NIKE by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker’s stock worth $7,453,658,000 after buying an additional 1,702,342 shares during the last quarter. State Street Corp increased its position in shares of NIKE by 2.2% in the 4th quarter. State Street Corp now owns 59,315,606 shares of the footwear maker’s stock valued at $3,802,807,000 after acquiring an additional 1,275,494 shares during the period. Capital World Investors increased its position in shares of NIKE by 16.2% in the 4th quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after acquiring an additional 6,830,938 shares during the period. J. Stern & Co. LLP raised its stake in NIKE by 49,010.4% in the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock worth $3,061,555,000 after acquiring an additional 47,956,692 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in NIKE by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker’s stock worth $1,677,251,000 after acquiring an additional 233,925 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 4,000 shares of the firm’s stock in a transaction dated Thursday, April 9th. The shares were purchased at an average price of $43.34 per share, for a total transaction of $173,360.00. Following the transaction, the director directly owned 41,022 shares of the company’s stock, valued at approximately $1,777,893.48. This represents a 10.80% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Holmes Swan purchased 11,781 shares of the company’s stock in a transaction that occurred on Tuesday, April 7th. The stock was bought at an average cost of $42.44 per share, for a total transaction of $499,985.64. Following the purchase, the director directly owned 55,074 shares in the company, valued at $2,337,340.56. This trade represents a 27.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is currently owned by corporate insiders.

NIKE Stock Up 0.1%

NIKE stock opened at $44.12 on Monday. The firm has a market cap of $65.34 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 2.49 and a beta of 1.12. NIKE, Inc. has a 52 week low of $40.00 and a 52 week high of $80.17. The business’s 50-day moving average price is $43.86 and its 200 day moving average price is $53.06. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, beating the consensus estimate of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.85 billion. During the same quarter last year, the business earned $0.14 earnings per share. The firm’s revenue was down 1.1% on a year-over-year basis. As a group, sell-side analysts anticipate that NIKE, Inc. will post 1.8 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, June 1st. NIKE’s dividend payout ratio is presently 78.47%.

Key NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE’s fiscal Q4 results beat analyst expectations, with revenue and EPS coming in ahead of forecasts, which has helped support the shares and reinforced hopes that the turnaround is starting to take hold. Stock Market Today, July 1: Nike Jumps After Quarterly Results Beat Analyst Estimates
• Positive Sentiment: Several commentaries argue the recent selloff may have gone too far, with some analysts and market watchers calling NIKE a rebound candidate after a difficult year. Prediction: Nike Stock Set for 25% Rebound After Brutal Year
• Neutral Sentiment: Reports highlight that NIKE’s digital sales fell while the company continues shifting its mix between direct-to-consumer and wholesale channels, suggesting the turnaround is still incomplete. Nike Digital Drops 12% as Brands Rebalance D2C and Wholesale
• Negative Sentiment: Barclays reportedly cut its price target on NIKE, signaling lower near-term expectations from one of the long-time bullish banks on the name. Barclays cuts Nike stock price target from $67 to $52
• Negative Sentiment: 7-Eleven filed a trademark lawsuit accusing NIKE of copying branding elements in an upcoming Air Max 95 design, adding legal overhang and potential distraction for the company. 7-Eleven sues Nike over alleged Air Max 95 design infringing brand colors

Analyst Upgrades and Downgrades

Several research firms have weighed in on NKE. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Barclays reduced their price objective on NIKE from $67.00 to $52.00 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. Telsey Advisory Group set a $47.00 target price on NIKE and gave the stock a “market perform” rating in a report on Wednesday. Royal Bank Of Canada reiterated a “neutral” rating on shares of NIKE in a report on Wednesday, July 1st. Finally, The Goldman Sachs Group reduced their price target on shares of NIKE from $46.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. Thirteen research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.42.

NIKE 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).