Commerzbank Aktiengesellschaft FI Raises Position in NIKE, Inc. $NKE

Key Points

• Commerzbank Aktiengesellschaft FI increased its holdings in NIKE, Inc. by 31.2%, owning a total of 110,115 shares valued at approximately $7.8 million after adding 26,197 shares in the second quarter.
• NIKE reported earnings of $0.49 per share for its most recent quarter, exceeding estimates of $0.27, with revenue reaching $11.72 billion against expectations of $10.96 billion.
• The company's quarterly dividend of $0.40 per share reflects an annualized yield of 2.3%, while its current earnings forecast is an expected 2.05 EPS for the fiscal year.

Commerzbank Aktiengesellschaft FI grew its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 31.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 110,115 shares of the footwear maker's stock after purchasing an additional 26,197 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in NIKE were worth $7,823,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Caldwell Sutter Capital Inc. raised its holdings in shares of NIKE by 6.3% during the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker's stock valued at $170,000 after buying an additional 142 shares during the last quarter. Westmount Partners LLC raised its holdings in NIKE by 2.9% during the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker's stock worth $367,000 after purchasing an additional 146 shares in the last quarter. HB Wealth Management LLC raised its holdings in NIKE by 0.3% during the second quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker's stock worth $3,695,000 after purchasing an additional 147 shares in the last quarter. Matrix Trust Co raised its holdings in NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after purchasing an additional 153 shares in the last quarter. Finally, Summit Financial Strategies Inc. raised its holdings in NIKE by 3.8% during the second quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker's stock worth $303,000 after purchasing an additional 155 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insider Activity at NIKE

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

NIKE Trading Down 1.4%

NIKE stock opened at $68.09 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The firm has a market cap of $100.56 billion, a price-to-earnings ratio of 34.92, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $84.76. The firm's 50 day moving average price is $73.99 and its two-hundred day moving average price is $67.29.

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

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. NIKE's payout ratio is presently 82.05%.

Analysts Set New Price Targets

Several brokerages recently commented on NKE. TD Cowen raised NIKE from a "hold" rating to a "buy" rating and boosted their target price for the stock from $62.00 to $85.00 in a report on Wednesday, September 10th. KeyCorp set a $90.00 target price on NIKE and gave the stock an "overweight" rating in a report on Thursday, October 2nd. Morgan Stanley set a $72.00 target price on NIKE and gave the stock a "positive" rating in a report on Wednesday, October 1st. Royal Bank Of Canada raised NIKE from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $76.00 to $90.00 in a report on Thursday, September 18th. Finally, The Goldman Sachs Group set a $85.00 target price on NIKE and gave the stock a "buy" rating in a report on Thursday, September 25th. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $81.57.

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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