Grandfield & Dodd LLC Raises Stock Position in NIKE, Inc. (NYSE:NKE)

Grandfield & Dodd LLC boosted its stake in NIKE, Inc. (NYSE:NKE) by 2.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 89,203 shares of the footwear maker’s stock after buying an additional 2,492 shares during the period. Grandfield & Dodd LLC’s holdings in NIKE were worth $5,663,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in NIKE during the 4th quarter valued at about $1,126,288,000. Wellington Management Group LLP lifted its holdings in shares of NIKE by 32.4% during 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. Renaissance Technologies LLC lifted its holdings in shares of NIKE by 1,302.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock valued at $196,901,000 after purchasing an additional 2,416,601 shares in the last quarter. Capital World Investors lifted its holdings in shares of NIKE by 10.3% during 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 purchasing an additional 2,288,627 shares in the last quarter. Finally, Flossbach Von Storch SE lifted its holdings in NIKE by 24.0% in the first quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker’s stock valued at $652,995,000 after acquiring an additional 1,988,547 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 0.3%

NKE opened at $72.05 on Wednesday. The firm has a market cap of $106.57 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 2.65 and a beta of 1.25. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The stock has a fifty day moving average price of $64.66 and a 200-day moving average price of $67.27.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the previous year, the business earned $0.99 EPS. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were paid a dividend of $0.40 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.22%. NIKE’s dividend payout ratio (DPR) is 74.07%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NKE shares. Robert W. Baird increased their target price on NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, June 27th. Royal Bank Of Canada dropped their target price on shares of NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a research report on Tuesday, May 20th. Needham & Company LLC raised their price target on NIKE from $66.00 to $78.00 and gave the company a “buy” rating in a report on Friday, June 27th. Morgan Stanley raised their price target on NIKE from $61.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday, June 27th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $70.00 target price on shares of NIKE in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.15.

NIKE Profile

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.