Covea Finance Increases Position in NIKE, Inc. (NYSE:NKE)

Covea Finance raised its position in NIKE, Inc. (NYSE:NKE - Free Report) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 353,766 shares of the footwear maker's stock after purchasing an additional 9,500 shares during the quarter. Covea Finance's holdings in NIKE were worth $22,457,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Riverwater Partners LLC grew its stake in shares of NIKE by 7.6% in the first quarter. Riverwater Partners LLC now owns 4,984 shares of the footwear maker's stock worth $316,000 after acquiring an additional 351 shares in the last quarter. Brady Family Wealth LLC grew its stake in shares of NIKE by 9.3% in the first quarter. Brady Family Wealth LLC now owns 47,829 shares of the footwear maker's stock worth $3,036,000 after acquiring an additional 4,051 shares in the last quarter. Proathlete Wealth Management LLC grew its stake in shares of NIKE by 13.2% in the first quarter. Proathlete Wealth Management LLC now owns 6,341 shares of the footwear maker's stock worth $404,000 after acquiring an additional 740 shares in the last quarter. Osborne Partners Capital Management LLC grew its stake in shares of NIKE by 5.6% in the first quarter. Osborne Partners Capital Management LLC now owns 77,679 shares of the footwear maker's stock worth $4,931,000 after acquiring an additional 4,117 shares in the last quarter. Finally, Retirement Systems of Alabama grew its stake in shares of NIKE by 286.8% in the first quarter. Retirement Systems of Alabama now owns 997,071 shares of the footwear maker's stock worth $63,294,000 after acquiring an additional 739,295 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Price Performance

Shares of NKE opened at $59.78 on Friday. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $98.04. The company has a market capitalization of $88.41 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 2.10 and a beta of 1.21. The firm has a 50-day simple moving average of $59.78 and a 200-day simple moving average of $68.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.19.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.43% and a return on equity of 32.18%. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The business's quarterly revenue was down 9.1% compared to the same quarter last year. On average, equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.68%. NIKE's dividend payout ratio (DPR) is 53.16%.

Analysts Set New Price Targets

Several equities analysts have commented on NKE shares. JPMorgan Chase & Co. dropped their price target on shares of NIKE from $64.00 to $56.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Cfra Research upgraded shares of NIKE to a "moderate buy" rating in a research note on Friday, March 21st. Citigroup dropped their price target on shares of NIKE from $72.00 to $57.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. China Renaissance initiated coverage on shares of NIKE in a research note on Wednesday, March 19th. They set a "hold" rating for the company. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of NIKE in a research note on Friday, May 23rd. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $78.74.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company's stock.

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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