Connor Clark & Lunn Investment Management Ltd. Buys Shares of 3,559 NIKE, Inc. $NKE

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired 3,559 shares of NIKE, Inc., valued at approximately $226,000, indicating growing institutional interest in the company.
• Analysts have mixed ratings on NIKE, with price targets ranging from $57.00 to $78.00 and a consensus rating of "Moderate Buy" with an average price target of $78.22.
• NIKE announced a quarterly dividend of $0.40 per share, with an annualized yield of 2.1%, reflecting the company's commitment to returning value to shareholders.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in NIKE, Inc. (NYSE:NKE - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,559 shares of the footwear maker's stock, valued at approximately $226,000.

A number of other institutional investors have also recently added to or reduced their stakes in NKE. Heck Capital Advisors LLC acquired a new stake in NIKE in the fourth quarter valued at approximately $28,000. Roxbury Financial LLC lifted its stake in NIKE by 52.1% in 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 during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of NIKE in the first quarter worth $37,000. Putney Financial Group LLC acquired a new stake in shares of NIKE in the fourth quarter worth $40,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of NIKE in the fourth quarter worth $42,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Needham & Company LLC boosted their price objective on shares of NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Wall Street Zen cut shares of NIKE from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Hsbc Global Res upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Royal Bank Of Canada reduced their price objective on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 20th. Finally, Citigroup boosted their price objective on shares of NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and an average price target of $78.22.

NIKE Price Performance

NYSE:NKE opened at $76.1760 on Thursday. The stock has a market cap of $112.50 billion, a P/E ratio of 35.27, a PEG ratio of 2.79 and a beta of 1.27. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The company has a fifty day moving average price of $71.88 and a 200 day moving average price of $67.69. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The firm had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business's quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.99 EPS. Analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's payout ratio is 74.07%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman owned 744,988 shares of the company's stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.80% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.