Comerica Bank Buys 4,516 Shares of NIKE, Inc. $NKE

Key Points

• Comerica Bank increased its stake in NIKE, Inc. by 1.6% during the first quarter, bringing its total holdings to 281,486 shares worth approximately $17.87 million.
• Goldman Sachs Group Inc. significantly lifted its holdings in NIKE by 344.2%, now owning over 26.6 million shares valued at nearly $1.69 billion.
• NIKE announced a quarterly dividend of $0.40 per share, with a 2.0% yield, payable on October 1st.

Comerica Bank lifted its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 281,486 shares of the footwear maker's stock after purchasing an additional 4,516 shares during the period. Comerica Bank's holdings in NIKE were worth $17,869,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NKE. Goldman Sachs Group Inc. lifted its holdings in NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after buying an additional 20,688,013 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after buying an additional 9,043,180 shares during the period. Jennison Associates LLC bought a new stake in shares of NIKE during the first quarter worth $509,051,000. Nuveen LLC acquired a new position in shares of NIKE during the first quarter valued at $502,285,000. Finally, Vanguard Group Inc. lifted its stake in shares of NIKE by 4.6% during the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock valued at $7,182,831,000 after acquiring an additional 4,957,494 shares during the period. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Argus upgraded NIKE to a "buy" rating in a research report on Sunday, July 6th. Wall Street Zen cut shares of NIKE from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. The Goldman Sachs Group increased their price objective on shares of NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a report on Friday, June 27th. UBS Group started coverage on shares of NIKE in a research note on Sunday, July 6th. They issued a "buy" rating on the stock. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of NIKE in a report on Monday, August 18th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $78.22.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction that occurred on 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 transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.80% of the company's stock.

NIKE Stock Performance

NKE stock opened at $79.14 on Tuesday. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The firm has a market cap of $116.88 billion, a PE ratio of 36.64, a P/E/G ratio of 2.85 and a beta of 1.27. The business's 50-day moving average price is $72.85 and its two-hundred day moving average price is $67.69.

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

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.0%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is 74.07%.

About NIKE

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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