Dividend Assets Capital LLC Boosts Stake in NIKE, Inc. $NKE

Dividend Assets Capital LLC boosted its holdings in NIKE, Inc. (NYSE:NKE) by 26.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 119,111 shares of the footwear maker’s stock after acquiring an additional 24,575 shares during the quarter. Dividend Assets Capital LLC’s holdings in NIKE were worth $6,291,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of NIKE by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker’s stock valued at $7,453,658,000 after acquiring an additional 1,702,342 shares during the last quarter. State Street Corp increased its position in shares of NIKE by 2.2% in the fourth quarter. State Street Corp now owns 59,315,606 shares of the footwear maker’s stock worth $3,802,807,000 after purchasing an additional 1,275,494 shares during the last quarter. Capital World Investors raised its stake in NIKE by 16.2% in the fourth quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after purchasing an additional 6,830,938 shares in the last quarter. J. Stern & Co. LLP raised its stake in NIKE by 49,010.4% in the fourth quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock valued at $3,061,555,000 after purchasing an additional 47,956,692 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in NIKE by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker’s stock valued at $1,677,251,000 after purchasing an additional 233,925 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on NKE. Berenberg Bank set a $49.00 price target on shares of NIKE in a research note on Friday. CICC Research cut shares of NIKE from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $69.00 to $58.00 in a research report on Monday, April 6th. Jefferies Financial Group dropped their price objective on shares of NIKE from $90.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Bank of America cut their target price on shares of NIKE from $55.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. Finally, Telsey Advisory Group set a $47.00 target price on shares of NIKE and gave the stock a “market perform” rating in a research report on Wednesday. Thirteen equities research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $55.42.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. bought 4,000 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was bought at an average cost of $43.34 per share, for a total transaction of $173,360.00. Following the completion of the acquisition, the director owned 41,022 shares in the company, valued at approximately $1,777,893.48. This trade represents a 10.80% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Philip Mccartney sold 17,398 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the sale, the executive vice president directly owned 53,133 shares in the company, valued at $2,453,681.94. The trade was a 24.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last three months, insiders have bought 64,441 shares of company stock valued at $2,734,204. Company insiders own 0.80% of the company’s stock.

Key Stories Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE’s fiscal Q4 results beat analyst expectations, with revenue and EPS coming in ahead of forecasts, which has helped support the shares and reinforced hopes that the turnaround is starting to take hold. Stock Market Today, July 1: Nike Jumps After Quarterly Results Beat Analyst Estimates
• Positive Sentiment: Several commentaries argue the recent selloff may have gone too far, with some analysts and market watchers calling NIKE a rebound candidate after a difficult year. Prediction: Nike Stock Set for 25% Rebound After Brutal Year
• Neutral Sentiment: Reports highlight that NIKE’s digital sales fell while the company continues shifting its mix between direct-to-consumer and wholesale channels, suggesting the turnaround is still incomplete. Nike Digital Drops 12% as Brands Rebalance D2C and Wholesale
• Negative Sentiment: Barclays reportedly cut its price target on NIKE, signaling lower near-term expectations from one of the long-time bullish banks on the name. Barclays cuts Nike stock price target from $67 to $52
• Negative Sentiment: 7-Eleven filed a trademark lawsuit accusing NIKE of copying branding elements in an upcoming Air Max 95 design, adding legal overhang and potential distraction for the company. 7-Eleven sues Nike over alleged Air Max 95 design infringing brand colors

NIKE Trading Up 0.1%

NYSE NKE opened at $44.12 on Monday. The firm has a market cap of $65.34 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 2.49 and a beta of 1.12. NIKE, Inc. has a 1-year low of $40.00 and a 1-year high of $80.17. The stock has a 50-day moving average of $43.86 and a 200-day moving average of $53.06. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE) last posted 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. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.NIKE’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the company earned $0.14 EPS. As a group, sell-side analysts forecast that NIKE, Inc. will post 1.8 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Monday, June 1st. NIKE’s dividend payout ratio (DPR) is 78.47%.

NIKE Company 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).