Amundi Acquires 1,825,585 Shares of NIKE, Inc. $NKE

Key Points

• Amundi increased its stake in NIKE, Inc. by 32.2% in the first quarter, owning over $475 million worth of shares as of the latest SEC filing.
• NIKE's stock ratings include three analysts with a Strong Buy rating, seventeen with a Buy rating, and thirteen with a Hold rating, reflecting overall positive sentiment.
• The company has declared a quarterly dividend of $0.40 per share, which will be paid on October 1st, indicating a stable cash return to shareholders.

Amundi grew its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 32.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,487,827 shares of the footwear maker's stock after purchasing an additional 1,825,585 shares during the period. Amundi owned about 0.51% of NIKE worth $475,327,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its stake in NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after acquiring an additional 160,980 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its stake in NIKE by 10.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock worth $14,447,000 after acquiring an additional 17,888 shares in the last quarter. AQR Capital Management LLC lifted its stake in NIKE by 46.0% in the 4th quarter. AQR Capital Management LLC now owns 116,428 shares of the footwear maker's stock worth $8,810,000 after acquiring an additional 36,673 shares in the last quarter. Triumph Capital Management purchased a new stake in NIKE in the 4th quarter worth about $215,000. Finally, Ameriprise Financial Inc. lifted its stake in NIKE by 5.9% in the 4th quarter. Ameriprise Financial Inc. now owns 1,375,733 shares of the footwear maker's stock worth $101,292,000 after acquiring an additional 77,065 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Price Performance

NKE stock traded up $0.27 during midday trading on Monday, reaching $74.18. 10,418,939 shares of the company's stock traded hands, compared to its average volume of 16,301,578. The company has a 50-day simple moving average of $75.48 and a two-hundred day simple moving average of $67.85. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The company has a market cap of $109.55 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 2.69 and a beta of 1.24. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

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

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. NIKE's payout ratio is 74.07%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares of the company's stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on NKE shares. Wells Fargo & Company upped their target price on NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Needham & Company LLC increased their price objective on NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a report on Friday, June 27th. Argus raised NIKE to a "buy" rating in a report on Sunday, July 6th. Wall Street Zen raised NIKE from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Citigroup increased their target price on NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $78.22.

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.