Bleakley Financial Group LLC Purchases 19,799 Shares of NIKE, Inc. $NKE

Bleakley Financial Group LLC lifted its holdings in NIKE, Inc. (NYSE:NKE) by 49.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 60,172 shares of the footwear maker’s stock after acquiring an additional 19,799 shares during the quarter. Bleakley Financial Group LLC’s holdings in NIKE were worth $3,178,000 at the end of the most recent quarter.

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

Insider Transactions at NIKE

In related news, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64. Following the sale, the executive vice president directly owned 53,133 shares of the company’s stock, valued at $2,453,681.94. This trade represents a 24.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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. Company insiders own 0.80% of the company’s stock.

NIKE Stock Performance

Shares of NIKE stock opened at $42.80 on Thursday. NIKE, Inc. has a 12 month low of $40.00 and a 12 month high of $80.17. The firm has a market capitalization of $63.38 billion, a P/E ratio of 20.48, a P/E/G ratio of 2.47 and a beta of 1.12. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. The business has a fifty day simple moving average of $43.67 and a two-hundred day simple moving average of $52.03.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.85 billion. During the same quarter last year, the company earned $0.14 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities analysts forecast that NIKE, Inc. will post 1.76 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were given a $0.41 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 3.8%. NIKE’s dividend payout ratio is 78.47%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. DA Davidson lowered NIKE from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $72.00 to $46.00 in a research note on Thursday, April 2nd. Weiss Ratings lowered shares of NIKE from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, June 8th. Evercore set a $46.00 price target on shares of NIKE and gave the company an “in-line” rating in a research report on Tuesday, June 23rd. DZ Bank reissued a “buy” rating on shares of NIKE in a report on Tuesday, April 21st. Finally, Zacks Research cut shares of NIKE from a “hold” rating to a “strong sell” rating in a research report on Monday, June 1st. Thirteen investment analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $54.80.

NIKE 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).