Dimensional Fund Advisors LP Increases Holdings in NIKE, Inc. (NYSE:NKE)

Key Points

• Dimensional Fund Advisors LP increased its holdings in NIKE, Inc. by 4.6% during the first quarter, now owning over 5 million shares worth approximately $326 million.
• Recent analysts' reports have mixed reviews for NIKE, with price targets ranging from $65.00 to $84.00 and an overall average rating of "Moderate Buy."
• NIKE announced a quarterly dividend of $0.40 per share, set to be paid on October 1st, representing an annualized yield of 2.1%.

Dimensional Fund Advisors LP grew its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,145,592 shares of the footwear maker's stock after purchasing an additional 226,284 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.35% of NIKE worth $326,613,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NKE. Stone House Investment Management LLC bought a new position in shares of NIKE during the 1st quarter worth $25,000. Heck Capital Advisors LLC purchased a new stake in NIKE during the 4th quarter worth about $28,000. Roxbury Financial LLC lifted its holdings in NIKE by 52.1% during the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after purchasing an additional 201 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in NIKE during the 1st quarter worth about $37,000. Finally, Putney Financial Group LLC purchased a new stake in NIKE during the 4th quarter worth about $40,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NKE has been the topic of a number of recent research reports. Bank of America increased their price objective on NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Hsbc Global Res raised NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. DZ Bank cut NIKE from a "buy" rating to a "hold" rating and set a $76.00 price target on the stock. in a report on Thursday, July 10th. Jefferies Financial Group reaffirmed a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Finally, Royal Bank Of Canada lowered their price target on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, NIKE has an average rating of "Moderate Buy" and an average target price of $78.22.

NIKE Price Performance

Shares of NKE stock opened at $77.17 on Friday. The firm has a market cap of $113.97 billion, a P/E ratio of 35.73, a P/E/G ratio of 2.80 and a beta of 1.27. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The business's 50 day moving average price is $71.05 and its 200-day moving average price is $67.63. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21.

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

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is currently 74.07%.

Insider Buying and Selling at NIKE

In other news, 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 value of $7,951,900.00. Following the sale, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.80% of the company's stock.

NIKE 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.

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