Broad Peak Investment Advisers Pte Ltd Takes Position in NIKE, Inc. $NKE

Key Points

• Broad Peak Investment Advisers Pte Ltd has acquired 120,000 shares of NIKE, Inc. valued at approximately $8.5 million, representing 2.7% of its investment portfolio.
• Several analysts have recently upgraded NIKE, with target prices ranging from $80.00 to $100.00, indicating strong investor confidence in the stock's performance.
• NIKE announced a quarterly dividend of $0.40 per share, reflecting a 2.4% dividend yield and a payout ratio of 82.05%.

Broad Peak Investment Advisers Pte Ltd acquired a new stake in NIKE, Inc. (NYSE:NKE - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 120,000 shares of the footwear maker's stock, valued at approximately $8,525,000. NIKE accounts for approximately 2.7% of Broad Peak Investment Advisers Pte Ltd's investment portfolio, making the stock its 7th largest position.

A number of other hedge funds have also modified their holdings of the company. Community Bank N.A. increased its holdings in shares of NIKE by 5.4% in the second quarter. Community Bank N.A. now owns 18,545 shares of the footwear maker's stock valued at $1,317,000 after purchasing an additional 955 shares during the period. NorthRock Partners LLC grew its holdings in NIKE by 15.7% during the second quarter. NorthRock Partners LLC now owns 18,774 shares of the footwear maker's stock worth $1,339,000 after acquiring an additional 2,548 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in NIKE by 12.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 78,113 shares of the footwear maker's stock worth $5,549,000 after acquiring an additional 8,386 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in NIKE by 0.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 101,837 shares of the footwear maker's stock worth $7,234,000 after acquiring an additional 400 shares during the period. Finally, Pegasus Asset Management Inc. grew its holdings in NIKE by 4.4% during the second quarter. Pegasus Asset Management Inc. now owns 32,602 shares of the footwear maker's stock worth $2,316,000 after acquiring an additional 1,375 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on NKE. HSBC raised NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a report on Friday, June 27th. Cowen raised NIKE from a "hold" rating to a "buy" rating in a report on Wednesday, September 10th. Argus raised NIKE to a "buy" rating in a report on Sunday, July 6th. JPMorgan Chase & Co. raised their target price on NIKE from $93.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, October 1st. Finally, Robert W. Baird raised their target price on NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.57.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Treasure Heinle sold 4,300 shares of the firm's stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares in the company, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 200,378 shares of company stock worth $14,794,264. Company insiders own 0.80% of the company's stock.

NIKE Stock Performance

Shares of NKE stock opened at $67.39 on Tuesday. The company has a market capitalization of $99.61 billion, a P/E ratio of 34.56, a P/E/G ratio of 2.38 and a beta of 1.29. The business's 50 day moving average is $73.66 and its two-hundred day moving average is $67.33. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $84.76.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.22. The company had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.NIKE's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 earnings per share. Analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is 82.05%.

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.

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