JustInvest LLC Purchases 6,992 Shares of NIKE, Inc. (NYSE:NKE)


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JustInvest LLC raised its position in shares of NIKE, Inc. (NYSE:NKE) by 57.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,218 shares of the footwear maker’s stock after buying an additional 6,992 shares during the quarter. JustInvest LLC’s holdings in NIKE were worth $2,554,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NKE. FMR LLC raised its position in shares of NIKE by 1.5% in the 4th quarter. FMR LLC now owns 31,113,666 shares of the footwear maker’s stock worth $4,401,651,000 after purchasing an additional 454,108 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of NIKE by 18.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,300,888 shares of the footwear maker’s stock worth $4,142,170,000 after purchasing an additional 4,468,961 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in NIKE by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 26,524,389 shares of the footwear maker’s stock worth $3,752,404,000 after buying an additional 388,550 shares in the last quarter. Jennison Associates LLC increased its holdings in NIKE by 30.8% in the 4th quarter. Jennison Associates LLC now owns 20,446,063 shares of the footwear maker’s stock worth $2,892,505,000 after buying an additional 4,812,150 shares in the last quarter. Finally, Morgan Stanley increased its holdings in NIKE by 31.3% in the 4th quarter. Morgan Stanley now owns 19,496,387 shares of the footwear maker’s stock worth $2,758,153,000 after buying an additional 4,643,842 shares in the last quarter. 64.20% of the stock is owned by institutional investors and hedge funds.

In other NIKE news, Director Peter B. Henry sold 3,388 shares of the stock in a transaction dated Tuesday, April 20th. The stock was sold at an average price of $127.03, for a total value of $430,377.64. Following the completion of the sale, the director now directly owns 2,282 shares in the company, valued at $289,882.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 114,094 shares of the stock in a transaction dated Friday, March 26th. The shares were sold at an average price of $130.67, for a total value of $14,908,662.98. Following the completion of the sale, the chairman now owns 1,537,729 shares of the company’s stock, valued at $200,935,048.43. The disclosure for this sale can be found here. Insiders have sold a total of 132,482 shares of company stock valued at $17,342,141 over the last 90 days. 3.80% of the stock is currently owned by company insiders.

Several equities research analysts recently commented on NKE shares. UBS Group reduced their price objective on NIKE from $183.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, April 28th. Barclays restated a “buy” rating and set a $174.00 price target on shares of NIKE in a research note on Friday, March 19th. Morgan Stanley cut their price target on NIKE from $176.00 to $173.00 and set an “overweight” rating for the company in a research note on Wednesday, March 17th. HSBC boosted their price target on NIKE from $158.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, March 31st. Finally, Credit Suisse Group boosted their price target on NIKE from $162.00 to $176.00 and gave the company an “outperform” rating in a research note on Thursday, March 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $159.83.

Shares of NYSE NKE traded down $1.96 during mid-day trading on Tuesday, reaching $131.07. 170,675 shares of the company were exchanged, compared to its average volume of 6,459,695. The company has a quick ratio of 1.97, a current ratio of 2.66 and a debt-to-equity ratio of 0.88. The stock has a market cap of $207.09 billion, a price-to-earnings ratio of 76.02, a P/E/G ratio of 2.51 and a beta of 0.83. NIKE, Inc. has a 1 year low of $84.11 and a 1 year high of $147.95. The firm has a 50-day moving average of $134.38 and a 200 day moving average of $135.89.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Wednesday, March 17th. The footwear maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. The firm had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.98 billion. NIKE had a return on equity of 34.89% and a net margin of 7.39%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 EPS. On average, equities analysts forecast that NIKE, Inc. will post 2.96 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Monday, March 1st were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Friday, February 26th. NIKE’s dividend payout ratio (DPR) is currently 59.46%.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

Further Reading: What is the Quick Ratio?

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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