China Universal Asset Management Co. Ltd. Has $2.68 Million Stake in NIKE, Inc. $NKE

China Universal Asset Management Co. Ltd. lifted its stake in NIKE, Inc. (NYSE:NKE) by 258.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 38,366 shares of the footwear maker’s stock after purchasing an additional 27,648 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in NIKE were worth $2,679,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NKE. Kovack Advisors Inc. raised its holdings in NIKE by 16.6% in the 3rd quarter. Kovack Advisors Inc. now owns 11,801 shares of the footwear maker’s stock valued at $823,000 after acquiring an additional 1,681 shares in the last quarter. Berkeley Capital Partners LLC raised its stake in NIKE by 3.5% in the third quarter. Berkeley Capital Partners LLC now owns 18,870 shares of the footwear maker’s stock valued at $1,316,000 after purchasing an additional 631 shares in the last quarter. Northern Financial Advisors Inc lifted its position in shares of NIKE by 6.3% during the 3rd quarter. Northern Financial Advisors Inc now owns 18,298 shares of the footwear maker’s stock worth $1,276,000 after buying an additional 1,082 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of NIKE by 61.5% in the third quarter. Y.D. More Investments Ltd now owns 16,810 shares of the footwear maker’s stock worth $1,172,000 after acquiring an additional 6,400 shares during the last quarter. Finally, Persistent Asset Partners Ltd bought a new position in shares of NIKE in the third quarter worth about $162,000. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 0.3%

NIKE stock opened at $65.76 on Friday. The firm has a market capitalization of $97.35 billion, a price-to-earnings ratio of 38.68, a price-to-earnings-growth ratio of 3.36 and a beta of 1.27. The firm’s fifty day moving average price is $63.51 and its two-hundred day moving average price is $67.54. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The company had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.19 billion. During the same quarter last year, the company earned $0.78 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.64 annualized dividend and a dividend yield of 2.5%. NIKE’s dividend payout ratio (DPR) is currently 96.47%.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan purchased 8,691 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The shares were bought at an average cost of $57.54 per share, with a total value of $500,080.14. Following the acquisition, the director owned 43,293 shares of the company’s stock, valued at $2,491,079.22. This represents a 25.12% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Timothy D. Cook acquired 50,000 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were bought at an average price of $58.97 per share, with a total value of $2,948,500.00. Following the acquisition, the director directly owned 105,480 shares of the company’s stock, valued at $6,220,155.60. The trade was a 90.12% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 75,079 shares of company stock worth $4,449,887 in the last 90 days. Insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. BTIG Research restated a “buy” rating and issued a $100.00 target price on shares of NIKE in a research report on Tuesday, January 27th. Citigroup reiterated a “neutral” rating and set a $65.00 target price (down from $70.00) on shares of NIKE in a research report on Friday, December 19th. Sanford C. Bernstein restated a “buy” rating and issued a $85.00 price target on shares of NIKE in a research report on Tuesday, January 6th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of NIKE in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company set a $65.00 price objective on shares of NIKE and gave the stock an “overweight” rating in a research note on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $74.61.

About NIKE

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).