J. Stern & Co. LLP Increases Stake in NIKE, Inc. $NKE

J. Stern & Co. LLP lifted its stake in NIKE, Inc. (NYSE:NKE) by 49,010.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,054,542 shares of the footwear maker’s stock after purchasing an additional 47,956,692 shares during the quarter. NIKE comprises about 0.9% of J. Stern & Co. LLP’s portfolio, making the stock its 22nd largest holding. J. Stern & Co. LLP’s holdings in NIKE were worth $3,061,555,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of NKE. Brighton Jones LLC increased its holdings in NIKE by 388.5% in the 4th 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 position in NIKE in the 1st quarter worth approximately $311,000. United Bank increased its holdings in NIKE by 11.3% in the 2nd 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 increased its holdings in NIKE by 0.3% in the 2nd 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 increased its holdings in NIKE by 6.5% in the 2nd 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 owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In related news, Director Timothy D. Cook purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The shares were purchased at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the purchase, the director owned 130,480 shares of the company’s stock, valued at $5,536,266.40. The trade was a 23.70% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Rogers, Jr. purchased 4,000 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The stock was bought at an average cost of $43.34 per share, for a total transaction of $173,360.00. Following the purchase, the director directly owned 41,022 shares in the company, valued at $1,777,893.48. This trade represents a 10.80% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 64,441 shares of company stock worth $2,734,204 in the last ninety days. Company insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NKE shares. Zacks Research downgraded shares of NIKE from a “hold” rating to a “strong sell” rating in a report on Monday, June 1st. Williams Trading cut their price target on shares of NIKE from $80.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. UBS Group set a $50.00 price target on shares of NIKE and gave the stock a “neutral” rating in a report on Wednesday, June 10th. China Renaissance dropped their price objective on shares of NIKE from $74.60 to $50.30 and set a “hold” rating on the stock in a research note on Thursday, April 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of NIKE in a research note on Thursday, June 4th. Fifteen investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has an average rating of “Hold” and an average price target of $60.89.

NIKE Price Performance

Shares of NYSE NKE opened at $45.06 on Wednesday. The stock has a market capitalization of $66.72 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 1.96 and a beta of 1.12. NIKE, Inc. has a 12 month low of $41.35 and a 12 month high of $80.17. The firm’s 50 day simple moving average is $44.30 and its 200-day simple moving average is $55.14. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The business had revenue of $11.28 billion for the quarter, compared to analysts’ expectations of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the company earned $0.54 EPS. Analysts expect that NIKE, Inc. will post 1.49 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid 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 dividend payout ratio (DPR) is currently 108.61%.

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).