2,920,713 Shares in NIKE, Inc. $NKE Acquired by Employees Provident Fund Board

Key Points

• Employees Provident Fund Board disclosed a new stake in NIKE, buying 2.92 million shares in the fourth quarter worth about $186.1 million. The position gave the fund roughly 0.20% ownership of the company.
• Institutional interest in NIKE remains broad, with several other funds also adding shares and 64.25% of the stock now held by institutional investors and hedge funds.
• NIKE has attracted mixed but generally supportive market signals: Barclays reiterated a Buy rating, the stock outperformed the broader market recently, and the company also declared a $0.41 quarterly dividend payable July 1.

Employees Provident Fund Board bought a new stake in NIKE, Inc. (NYSE:NKE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,920,713 shares of the footwear maker's stock, valued at approximately $186,079,000. Employees Provident Fund Board owned 0.20% of NIKE as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Westerkirk Capital Inc. lifted its stake in NIKE by 52.4% in the 4th quarter. Westerkirk Capital Inc. now owns 131,220 shares of the footwear maker's stock valued at $8,360,000 after purchasing an additional 45,100 shares during the last quarter. Mizuho Markets Cayman LP acquired a new position in shares of NIKE in the third quarter worth approximately $34,200,000. OMERS ADMINISTRATION Corp boosted its stake in shares of NIKE by 77.9% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 2,526,179 shares of the footwear maker's stock valued at $160,943,000 after purchasing an additional 1,106,499 shares during the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in shares of NIKE in the 4th quarter valued at about $43,188,000. Finally, Strive Asset Management LLC acquired a new stake in shares of NIKE during the 3rd quarter worth approximately $1,743,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE News Roundup

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Barclays reiterated a Buy rating on NIKE, which can support sentiment by signaling that analysts still see upside in the stock. Barclays Remains a Buy on Nike (NKE)
• Positive Sentiment: NIKE outperformed the broader market in the latest trading session, suggesting traders may be positioning ahead of upcoming earnings and looking for signs that the turnaround is taking hold. Nike (NKE) Outperforms Broader Market: What You Need to Know
• Positive Sentiment: Coverage highlighted stronger traction in one major market and signs that NIKE’s recovery is gaining momentum, which could improve confidence in the company’s earnings outlook. Headed Into Earnings, Nike Stock Is Trading Lower Than It Was a Decade Ago. But Is the Turnaround Finally Working?

NIKE Trading Up 0.0%

NYSE:NKE opened at $45.22 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average of $44.39 and a 200 day moving average of $54.79. The firm has a market capitalization of $66.97 billion, a P/E ratio of 29.95, a P/E/G ratio of 1.96 and a beta of 1.12. NIKE, Inc. has a 52 week low of $41.35 and a 52 week high of $80.17.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the previous year, the business earned $0.54 EPS. NIKE's revenue was up .1% compared to the same quarter last year. On average, research analysts predict that NIKE, Inc. will post 1.49 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, June 1st. NIKE's payout ratio is presently 108.61%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NKE. Berenberg Bank reiterated a "neutral" rating on shares of NIKE in a report on Wednesday, May 6th. DZ Bank reiterated a "buy" rating on shares of NIKE in a research note on Tuesday, April 21st. China Renaissance lowered their price objective on NIKE from $74.60 to $50.30 and set a "hold" rating on the stock in a research note on Thursday, April 2nd. Wells Fargo & Company set a $45.00 price target on NIKE and gave the company an "equal weight" rating in a research report on Friday, May 8th. Finally, BTIG Research reduced their target price on NIKE from $90.00 to $75.00 and set a "buy" rating for the company in a research report on Wednesday, April 1st. Fifteen equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, NIKE presently has a consensus rating of "Hold" and an average price target of $60.89.

Insider Buying and Selling

In other news, Director Timothy D. Cook acquired 25,000 shares of the firm's stock in a transaction on Friday, April 10th. The stock was acquired at an average price of $42.43 per share, for a total transaction of $1,060,750.00. Following the completion of the acquisition, the director owned 130,480 shares in the company, valued at $5,536,266.40. This trade represents a 23.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Holmes Swan acquired 11,781 shares of the company's stock in a transaction that occurred on Tuesday, April 7th. The shares were acquired at an average cost of $42.44 per share, for a total transaction of $499,985.64. Following the purchase, the director directly owned 55,074 shares of the company's stock, valued at $2,337,340.56. This represents a 27.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 64,441 shares of company stock valued at $2,734,204 over the last 90 days. 0.80% of the stock is currently owned by company insiders.

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).

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