Swiss National Bank Increases Stock Holdings in NIKE, Inc. $NKE

Swiss National Bank grew its stake in NIKE, Inc. (NYSE:NKE) by 7.3% during the first quarter, HoldingsChannel reports. The firm owned 3,496,700 shares of the footwear maker’s stock after purchasing an additional 237,600 shares during the quarter. Swiss National Bank’s holdings in NIKE were worth $184,696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of NKE. Legacy Wealth Advisors LLC acquired a new stake in shares of NIKE in the 1st quarter worth $324,000. Spartan Wealth Advisory Services LLC acquired a new position in shares of NIKE during the first quarter worth about $385,000. ANB Bank increased its stake in shares of NIKE by 2.4% during the first quarter. ANB Bank now owns 26,069 shares of the footwear maker’s stock worth $1,377,000 after acquiring an additional 618 shares during the period. Pavion Blue Capital LLC raised its holdings in NIKE by 3.2% during the first quarter. Pavion Blue Capital LLC now owns 15,150 shares of the footwear maker’s stock worth $800,000 after purchasing an additional 463 shares in the last quarter. Finally, German American Bancorp Inc. raised its holdings in NIKE by 8.5% during the first quarter. German American Bancorp Inc. now owns 66,428 shares of the footwear maker’s stock worth $3,509,000 after purchasing an additional 5,188 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 0.0%

NIKE stock opened at $43.78 on Monday. NIKE, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $80.17. The firm has a market capitalization of $64.83 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 2.53 and a beta of 1.12. The stock’s fifty day moving average is $43.67 and its two-hundred day moving average is $51.79. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. During the same quarter in the previous year, the company posted $0.14 EPS. The business’s revenue was down 1.1% on a year-over-year basis. Analysts predict that NIKE, Inc. will post 1.75 EPS for the current fiscal year.

NIKE Dividend Announcement

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

Insider Transactions at NIKE

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the sale, the executive vice president owned 53,133 shares of the company’s stock, valued at $2,453,681.94. This represents a 24.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Berenberg Bank set a $49.00 price objective on shares of NIKE in a research report on Friday, July 3rd. Argus raised NIKE to a “strong-buy” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. decreased their price target on NIKE from $52.00 to $47.00 and set a “neutral” rating on the stock in a research note on Monday, June 29th. The Goldman Sachs Group dropped their price objective on NIKE from $46.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, July 1st. Finally, Oppenheimer cut their price objective on NIKE to $60.00 and set an “outperform” rating for the company in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $54.80.

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).