Edgar Lomax Co. VA Makes New Investment in NIKE, Inc. $NKE

Edgar Lomax Co. VA bought a new position in shares of NIKE, Inc. (NYSE:NKE) during the first quarter, HoldingsChannel.com reports. The firm bought 294,865 shares of the footwear maker’s stock, valued at approximately $18,718,000.

A number of other hedge funds also recently added to or reduced their stakes in NKE. Spire Wealth Management grew its position in shares of NIKE by 4.4% in the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock valued at $627,000 after buying an additional 416 shares during the last quarter. Capitolis Liquid Global Markets LLC grew its position in shares of NIKE by 40.9% in the 4th quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker’s stock valued at $23,458,000 after buying an additional 90,000 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of NIKE by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker’s stock valued at $460,160,000 after buying an additional 463,470 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of NIKE by 0.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after buying an additional 5,601 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp grew its position in shares of NIKE by 20.2% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 52,370 shares of the footwear maker’s stock valued at $3,963,000 after buying an additional 8,792 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of NIKE in a research report on Friday, May 23rd. Wells Fargo & Company raised their price objective on shares of NIKE from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 14th. UBS Group initiated coverage on shares of NIKE in a research report on Sunday, July 6th. They set a “buy” rating on the stock. The Goldman Sachs Group raised their price objective on shares of NIKE from $72.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, June 27th. Finally, Hsbc Global Res raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $78.22.

NIKE Trading Up 1.0%

Shares of NKE opened at $77.17 on Monday. The stock has a fifty day moving average of $71.05 and a two-hundred day moving average of $67.56. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The company has a market capitalization of $113.97 billion, a PE ratio of 35.73, a price-to-earnings-growth ratio of 2.80 and a beta of 1.27. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62.

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

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.1%. NIKE’s payout ratio is 74.07%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.80% of the company’s stock.

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.