Candriam S.C.A. Has $25.70 Million Stock Holdings in NIKE, Inc. $NKE

Key Points

• Candriam S.C.A. boosted its NIKE stake by 57.5% in the first quarter, ending with 486,635 shares valued at about $25.7 million.
• NIKE beat earnings expectations for the quarter, reporting $0.20 EPS versus $0.11 expected, while revenue came in at $10.97 billion, slightly above estimates but down 1.1% year over year.
• Analysts remain cautious overall, with a consensus rating of “Hold” and an average price target of $54.80, even as several firms cut targets; the stock also yields 3.7% after its recent quarterly dividend.

Candriam S.C.A. increased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 57.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 486,635 shares of the footwear maker's stock after purchasing an additional 177,652 shares during the period. Candriam S.C.A.'s holdings in NIKE were worth $25,704,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Westerkirk Capital Inc. raised its stake in NIKE by 52.4% during the 4th quarter. Westerkirk Capital Inc. now owns 131,220 shares of the footwear maker's stock worth $8,360,000 after buying an additional 45,100 shares during the period. Mizuho Markets Cayman LP bought a new stake in shares of NIKE during the third quarter valued at approximately $34,200,000. OMERS ADMINISTRATION Corp raised its position in shares of NIKE by 77.9% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 2,526,179 shares of the footwear maker's stock worth $160,943,000 after purchasing an additional 1,106,499 shares during the period. PFA Pension Forsikringsaktieselskab bought a new position in shares of NIKE in the 4th quarter worth $43,188,000. Finally, Nicholas Company Inc. lifted its holdings in shares of NIKE by 33.3% in the 4th quarter. Nicholas Company Inc. now owns 123,652 shares of the footwear maker's stock worth $7,878,000 after purchasing an additional 30,890 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Performance

NYSE NKE traded up $1.61 during trading hours on Friday, reaching $44.39. 23,290,306 shares of the company were exchanged, compared to its average volume of 27,765,434. The stock has a market capitalization of $65.73 billion, a P/E ratio of 21.24, a P/E/G ratio of 2.56 and a beta of 1.12. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. NIKE, Inc. has a 1 year low of $40.00 and a 1 year high of $80.17. The business's 50 day simple moving average is $43.71 and its 200-day simple moving average is $52.40.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. During the same period in the prior year, the firm earned $0.14 EPS. The company's revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts expect that NIKE, Inc. will post 1.76 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, June 1st. NIKE's payout ratio is currently 78.47%.

Analyst Ratings Changes

Several research analysts have weighed in on NKE shares. Williams Trading lowered their price objective on shares of NIKE from $80.00 to $57.00 and set a "buy" rating on the stock in a report on Wednesday, April 1st. DZ Bank reiterated a "buy" rating on shares of NIKE in a research note on Tuesday, April 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of NIKE in a research report on Thursday, June 4th. Bank of America dropped their price objective on NIKE from $55.00 to $47.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 1st. Finally, Guggenheim reiterated a "buy" rating and issued a $60.00 target price (down from $74.00) on shares of NIKE in a report on Wednesday, July 1st. Thirteen equities research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $54.80.

Insider Activity

In other news, EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the transaction, the executive vice president owned 53,133 shares in the company, valued at $2,453,681.94. This trade represents a 24.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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. Also, CEO Elliott Hill acquired 23,660 shares of NIKE stock in a transaction that occurred on Monday, April 13th. The stock was acquired at an average price of $42.27 per share, with a total value of $1,000,108.20. Following the completion of the purchase, the chief executive officer directly owned 265,247 shares in the company, valued at $11,211,990.69. This represents a 9.79% increase in their position. The SEC filing for this purchase provides additional information. 0.80% of the stock is owned by corporate insiders.

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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