Kiley Juergens Wealth Management LLC raised its stake in shares of NIKE, Inc. (NYSE: NKE – Get a rating) by 3.0% in the first quarter, according to its latest filing with the Securities and Exchange Commission. The company held 11,561 shares of the shoemaker after acquiring 337 additional shares during the quarter. Kiley Juergens Wealth Management LLC’s holdings in NIKE were worth $1,556,000 when it last filed with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently changed their positions in the company. BlackRock Inc. increased its stake in NIKE by 0.3% during the 4th quarter. BlackRock Inc. now owns 89,964,963 shares of the shoemaker worth $14,994,459,000 after purchasing an additional 298,848 shares during the period. State Street Corp increased its stake in NIKE shares by 3.6% during the fourth quarter. State Street Corp now owns 56,598,375 shares of the shoemaker worth $9,433,251,000 after purchasing an additional 1,969,270 shares during the period. Geode Capital Management LLC increased its stake in NIKE by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 21,444,116 shares of the shoemaker valued at $3,564,786,000 after acquiring an additional 601,940 shares last quarter. Jennison Associates LLC increased its stake in NIKE by 14.6% in the fourth quarter. Jennison Associates LLC now owns 15,307,214 shares of the shoemaker worth $2,551,253,000 after acquiring an additional 1,944,401 shares in the last quarter. Finally, Norges Bank acquired a new position in NIKE during Q4 worth approximately $1,894,686,000. Institutional investors and hedge funds hold 65.35% of the company’s shares.
NKE opened at $107.93 on Monday. The company has a debt ratio of 0.58, a current ratio of 2.63 and a quick ratio of 1.84. NIKE, Inc. has a 12-month low of $99.53 and a 12-month high of $179.10. The stock has a market capitalization of $169.86 billion, a P/E ratio of 28.70, a P/E/G ratio of 2.20 and a beta of 1.00. The company has a 50-day simple moving average of $111.90 and a 200-day simple moving average of $129.96.
NIKE (NYSE: NKE – Get a rating) last released its results on Monday, June 27. The shoemaker reported EPS of $0.90 for the quarter, beating consensus analyst estimates of $0.81 by $0.09. NIKE had a return on equity of 40.74% and a net margin of 12.94%. The company posted revenue of $12.20 billion in the quarter, versus a consensus estimate of $12.10 billion. In the same quarter last year, the company earned earnings per share of $0.93. NIKE’s quarterly revenue was down 0.8% from the same quarter last year. Research analysts expect NIKE, Inc. to post EPS of 3.93 for the current year.
NIKE said its board authorized a stock repurchase plan on Monday, June 27 that sees the company repurchase $18.00 billion in outstanding stock. This repurchase authorization allows the shoemaker to repurchase up to 11% of its inventory through open market purchases. Stock buyback plans are usually a sign that a company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Friday, July 1. Shareholders of record on Monday, June 6 received a dividend of $0.305 per share. The ex-dividend date was Friday, June 3. This represents an annualized dividend of $1.22 and a yield of 1.13%. NIKE’s payout rate is currently 32.45%.
In other news, Director John W. Rogers, Jr. purchased 10,000 shares in a trade on Thursday, June 30. The shares were purchased at an average price of $102.96 per share, with a total value of $1,029,600.00. Following the completion of the acquisition, the director now owns 25,681 shares of the company, valued at $2,644,115.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Also, CFO Matthew friend sold 9,032 shares of the company in a transaction that took place on Monday, June 13. The stock was sold at an average price of $110.52, for a total transaction of $998,216.64. Following the transaction, the CFO now directly owns 51,581 shares of the company, valued at $5,700,732.12. Disclosure of this sale can be found here. Insiders sold 72,735 shares of the company worth $7,944,215 in the past 90 days. 3.70% of the shares are currently held by insiders of the company.
A number of stock analysts have recently commented on the stock. Stifel Nicolaus lowered his price target on NIKE shares from $150.00 to $135.00 and set a “buy” rating for the company in a Tuesday, June 28 research note. Wedbush lowered its price target on NIKE from $139.00 to $130.00 and set an “outperform” rating on the stock in a Tuesday, June 28 report. JPMorgan Chase & Co. set a target price of $130.00 on NIKE in a Wednesday, June 29 research report. BMO Capital Markets lowered its price target on NIKE from $142.00 to $128.00 and set an “outperform” rating for the company in a Tuesday, June 28 report. Finally, Deutsche Bank Rese… set a price target of $130.00 on NIKE shares in a Tuesday, June 28 report. Seven equity research analysts gave the stock a hold rating and twenty-two gave the company’s stock a buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $144.96.
NIKE profile (Get a rating)
NIKE, Inc., together with its subsidiaries, designs, develops, markets and sells athletic footwear, apparel, equipment and accessories worldwide. The company offers NIKE-branded products in six categories, including running, NIKE basketball, Jordan brand, football, training and sportswear. It also markets products designed for children, as well as other sports and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball- ball, walking, wrestling and other outdoor activities; and apparel with licensed college and pro team and league logos, as well as athletic apparel.
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