Clal Insurance Enterprises Holdings Ltd Invests $25.96 Million in NIKE, Inc. (NYSE:NKE)

Key Points

• Clal Insurance Enterprises Holdings Ltd acquired 409,000 shares of NIKE, Inc. for approximately $25.96 million in the first quarter, increasing institutional ownership to 64.25%.
• NIKE recently reported earnings of $0.14 per share, exceeding analysts' expectations, with a revenue of $11.10 billion for the quarter, though down 11.9% from the prior year.
• The company declared a quarterly dividend of $0.40 per share, yielding 2.2%, with an ex-dividend date set for September 2nd.

Clal Insurance Enterprises Holdings Ltd bought a new position in NIKE, Inc. (NYSE:NKE - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 409,000 shares of the footwear maker's stock, valued at approximately $25,963,000.

Several other institutional investors and hedge funds have also bought and sold shares of NKE. Spire Wealth Management raised its position in NIKE by 4.4% in the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock worth $627,000 after purchasing an additional 416 shares during the period. Capitolis Liquid Global Markets LLC increased its position in shares of NIKE by 40.9% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock valued at $23,458,000 after acquiring an additional 90,000 shares during the period. Janus Henderson Group PLC increased its position in shares of NIKE by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock valued at $460,160,000 after acquiring an additional 463,470 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock valued at $69,932,000 after acquiring an additional 5,601 shares during the period. Finally, Evergreen Capital Management LLC increased its position in shares of NIKE by 3.3% in the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker's stock valued at $18,042,000 after acquiring an additional 7,536 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Evercore ISI decreased their price objective on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a research report on Friday, June 20th. Wall Street Zen lowered shares of NIKE from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Citigroup lifted their target price on shares of NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, June 27th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $70.00 target price on shares of NIKE in a research note on Friday, June 27th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $78.22.

NIKE Stock Performance

Shares of NKE traded up $2.38 during mid-day trading on Wednesday, hitting $77.28. 13,467,677 shares of the company traded hands, compared to its average volume of 10,761,510. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The stock has a 50-day moving average price of $70.49 and a two-hundred day moving average price of $67.67. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62. The stock has a market cap of $114.13 billion, a price-to-earnings ratio of 35.78, a P/E/G ratio of 2.72 and a beta of 1.27.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. During the same period in the prior year, the company earned $0.99 earnings per share. The firm's revenue was down 11.9% on a year-over-year basis. Equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio is currently 74.07%.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.