Amundi Acquires 931,541 Shares of NIKE, Inc. $NKE

Key Points

• Amundi increased its NIKE stake by 29.8% in the first quarter, purchasing 931,541 additional shares to hold 4.05 million shares valued at approximately $214.1 million. Institutional investors and hedge funds collectively own 64.25% of NIKE.
• Analyst sentiment remains cautious: NIKE has an average “Hold” rating and a $53.74 consensus price target, with 19 Holds and four Sell ratings among analysts surveyed.
• NIKE shares opened at $42.28, near their 12-month low, while the company reported quarterly EPS of $0.20—beating estimates—but revenue declined 1.1% year over year. NIKE also maintains a quarterly dividend of $0.41, equivalent to a 3.9% annual yield.

Amundi grew its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 29.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,053,789 shares of the footwear maker's stock after buying an additional 931,541 shares during the quarter. Amundi owned approximately 0.27% of NIKE worth $214,122,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of NIKE by 1.5% in 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 buying an additional 1,702,342 shares during the period. State Street Corp lifted 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 acquiring an additional 1,275,494 shares during the period. Capital World Investors lifted 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 acquiring an additional 6,830,938 shares during the period. J. Stern & Co. LLP raised its holdings in NIKE by 49,010.4% during the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker's stock worth $3,061,555,000 after purchasing an additional 47,956,692 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in NIKE by 0.9% during 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 purchasing an additional 233,925 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Robert W. Baird reaffirmed an "outperform" rating and issued a $70.00 target price on shares of NIKE in a research note on Wednesday, July 1st. Citigroup reaffirmed a "neutral" rating on shares of NIKE in a report on Wednesday, July 22nd. China Renaissance dropped their target price on shares of NIKE from $50.30 to $47.30 and set a "hold" rating for the company in a research report on Thursday, July 2nd. Needham & Company LLC reissued a "hold" rating on shares of NIKE in a research note on Thursday, June 4th. Finally, Rothschild & Co Redburn dropped their price objective on NIKE from $45.00 to $37.00 and set a "sell" rating for the company in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, NIKE presently has an average rating of "Hold" and an average target price of $53.74.

NIKE Stock Performance

Shares of NKE opened at $42.28 on Friday. The firm has a market cap of $62.73 billion, a P/E ratio of 20.23, a PEG ratio of 1.92 and a beta of 1.12. NIKE, Inc. has a twelve month low of $40.00 and a twelve month high of $80.17. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. The firm's 50 day moving average price is $43.62 and its two-hundred day moving average price is $50.42.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The firm's revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.14 earnings per share. On average, analysts forecast that NIKE, Inc. will post 1.74 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, June 1st. NIKE's payout ratio is currently 78.47%.

Insiders Place Their Bets

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction on Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the sale, the executive vice president directly owned 53,133 shares in the company, valued at approximately $2,453,681.94. The trade was a 24.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 1.10% of the company's stock.

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).

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