Charles Schwab Investment Management Inc. Buys 301,497 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in NIKE, Inc. by 3.3%, acquiring an additional 301,497 shares, bringing their total ownership to approximately 9.5 million shares valued at $603.4 million.
• In the fourth quarter, several institutional investors significantly boosted their holdings in NIKE, with Brighton Jones LLC increasing its stake by 388.5%.
• NIKE is set to pay a quarterly dividend of $0.40 on October 1st, representing an annualized yield of 2.2% and a payout ratio of 74.07%.

Charles Schwab Investment Management Inc. boosted its position in NIKE, Inc. (NYSE:NKE - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,507,250 shares of the footwear maker's stock after buying an additional 301,497 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.64% of NIKE worth $603,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Heck Capital Advisors LLC purchased a new position in NIKE during the 4th quarter valued at about $28,000. EnRich Financial Partners LLC grew its position in shares of NIKE by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock worth $31,000 after buying an additional 273 shares during the last quarter. Roxbury Financial LLC raised its holdings in shares of NIKE by 52.1% during the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after acquiring an additional 201 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in NIKE in the first quarter worth $37,000. Finally, Putney Financial Group LLC purchased a new stake in NIKE in the fourth quarter worth $40,000. 64.25% of the stock is currently owned by institutional investors.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares of the company's stock, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.80% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. upgraded shares of NIKE from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $64.00 to $93.00 in a report on Monday, July 28th. Morgan Stanley increased their price target on shares of NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Friday, June 27th. Royal Bank Of Canada cut their price objective on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 20th. Robert W. Baird increased their target price on NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research report on Friday, June 27th. Finally, Evercore ISI dropped their price target on NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, NIKE has an average rating of "Moderate Buy" and a consensus target price of $78.22.

NIKE Trading Down 0.2%

Shares of NYSE:NKE traded down $0.18 on Friday, hitting $74.17. 6,733,814 shares of the company's stock were exchanged, compared to its average volume of 11,448,546. The business's 50 day simple moving average is $69.70 and its two-hundred day simple moving average is $67.60. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The stock has a market capitalization of $109.54 billion, a price-to-earnings ratio of 34.34, a price-to-earnings-growth ratio of 2.70 and a beta of 1.27. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data 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. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same quarter last year, the business posted $0.99 EPS. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. Analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. NIKE's dividend payout ratio (DPR) is currently 74.07%.

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.