Aware Super Pty Ltd as trustee of Aware Super Acquires Shares of 72,870 NIKE, Inc. $NKE

Key Points

• Aware Super opened a new position in NIKE during the first quarter, buying 72,870 shares worth about $3.85 million.
• NIKE reported better-than-expected quarterly results, with EPS of $0.20 versus $0.11 expected and revenue of $10.97 billion versus $10.85 billion estimated, though sales were still down 1.1% year over year.
• Despite the earnings beat, analysts remain cautious: the stock has an average Hold rating and a consensus price target of $54.80, while NIKE traded around $43.78 and recently paid a quarterly dividend of $0.41 per share.

Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 72,870 shares of the footwear maker's stock, valued at approximately $3,849,000.

Several other large investors also recently bought and sold shares of NKE. Westerkirk Capital Inc. grew its stake in shares of 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 buying an additional 45,100 shares in the last quarter. OMERS ADMINISTRATION Corp raised its position in NIKE by 77.9% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 2,526,179 shares of the footwear maker's stock valued at $160,943,000 after acquiring an additional 1,106,499 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new stake in NIKE in the fourth quarter valued at approximately $43,188,000. Nicholas Company Inc. grew its position in NIKE by 33.3% in the fourth quarter. Nicholas Company Inc. now owns 123,652 shares of the footwear maker's stock worth $7,878,000 after acquiring an additional 30,890 shares in the last quarter. Finally, Stoneridge Investment Partners LLC boosted its stake in shares of NIKE by 1,253.6% during the 4th quarter. Stoneridge Investment Partners LLC now owns 78,846 shares of the footwear maker's stock worth $5,023,000 after acquiring an additional 73,021 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insider Buying and Selling

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of the company's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the transaction, the executive vice president owned 53,133 shares of the company's stock, valued at $2,453,681.94. This represents a 24.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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. 0.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. CICC Research downgraded NIKE from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $69.00 to $58.00 in a research report on Monday, April 6th. Evercore set a $46.00 target price on shares of NIKE and gave the company an "in-line" rating in a research report on Tuesday, June 23rd. Wells Fargo & Company lowered their target price on NIKE from $45.00 to $40.00 and set an "equal weight" rating for the company in a report on Wednesday, July 1st. Wall Street Zen raised NIKE from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Weiss Ratings cut NIKE from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $54.80.

NIKE Trading Down 1.8%

Shares of NIKE stock opened at $43.78 on Friday. The company's fifty day simple moving average is $43.67 and its 200-day simple moving average is $51.86. NIKE, Inc. has a 1-year low of $40.00 and a 1-year high of $80.17. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36. The stock has a market capitalization of $64.83 billion, a PE ratio of 20.95, a P/E/G ratio of 2.57 and a beta of 1.12.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results 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 firm had revenue of $10.97 billion for the quarter, compared to analysts' expectations of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business's revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 earnings per share. As a group, equities analysts anticipate that NIKE, Inc. will post 1.76 earnings per share for the current 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 issued a dividend of $0.41 per share. The ex-dividend date was Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.7%. NIKE's payout ratio is presently 78.47%.

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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