Audent Global Asset Management LLC Purchases 22,502 Shares of NIKE, Inc. (NYSE:NKE)

Audent Global Asset Management LLC grew its position in NIKE, Inc. (NYSE:NKE) by 161.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,458 shares of the footwear maker’s stock after purchasing an additional 22,502 shares during the period. NIKE makes up approximately 1.8% of Audent Global Asset Management LLC’s investment portfolio, making the stock its 20th largest holding. Audent Global Asset Management LLC’s holdings in NIKE were worth $2,773,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after purchasing an additional 8,898,591 shares in the last quarter. Geode Capital Management LLC increased its position in shares of NIKE by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock valued at $1,915,110,000 after acquiring an additional 347,178 shares during the last quarter. Capital World Investors increased its position in shares of NIKE by 10.3% in the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock valued at $1,857,389,000 after acquiring an additional 2,288,627 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after acquiring an additional 3,121,929 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of NIKE in the fourth quarter valued at about $1,126,288,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Trading Down 2.1%

Shares of NYSE:NKE opened at $60.02 on Tuesday. The company has a market capitalization of $88.78 billion, a P/E ratio of 18.52, a P/E/G ratio of 2.52 and a beta of 1.23. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The business’s 50 day simple moving average is $59.63 and its 200 day simple moving average is $70.00.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. On average, research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.67%. The ex-dividend date is Monday, June 2nd. NIKE’s payout ratio is presently 53.16%.

Insiders Place Their Bets

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of the business’s stock in a transaction on Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. UBS Group lowered their target price on NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Citigroup lowered their target price on NIKE from $72.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Telsey Advisory Group lowered their target price on NIKE from $80.00 to $70.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 6th. Cfra Research raised NIKE to a “moderate buy” rating in a research report on Friday, March 21st. Finally, Morgan Stanley lowered their target price on NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $80.26.

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.