Driehaus Capital Management LLC Makes New $337,000 Investment in NIKE, Inc. $NKE

Key Points

• Driehaus Capital Management LLC has invested approximately $337,000 in NIKE, acquiring 5,312 shares during the 1st quarter.
• NIKE reported a quarterly earnings per share of $0.14, surpassing analysts' expectations, despite an 11.9% year-over-year decline in revenue.
• The company announced a quarterly dividend of $0.40, reflecting a yield of 2.1%, with the record date set for September 2nd.

Driehaus Capital Management LLC bought a new stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,312 shares of the footwear maker's stock, valued at approximately $337,000.

Other large investors have also recently modified their holdings of the company. Heck Capital Advisors LLC bought a new stake in shares of NIKE during the 4th quarter valued at about $28,000. Stone House Investment Management LLC purchased a new position in NIKE during the 1st quarter valued at about $25,000. Putney Financial Group LLC purchased a new position in NIKE in the fourth quarter worth about $40,000. Minot DeBlois Advisors LLC bought a new stake in shares of NIKE in the fourth quarter worth approximately $42,000. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of NIKE in the first quarter worth approximately $37,000. Institutional investors own 64.25% of the company's stock.

NIKE Price Performance

Shares of NKE traded up $0.40 during mid-day trading on Wednesday, reaching $74.69. The stock had a trading volume of 7,465,443 shares, compared to its average volume of 8,412,580. The firm has a market cap of $110.32 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 2.81 and a beta of 1.24. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The business has a fifty day moving average of $75.19 and a 200 day moving average of $67.98. 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 released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. The company's quarterly revenue was down 11.9% compared to the same quarter last year. Equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NKE. HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a research note on Friday, June 27th. Bank of America lifted their price target on shares of NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Argus upgraded shares of NIKE to a "buy" rating in a research note on Sunday, July 6th. Morgan Stanley lifted their price target on shares of NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Friday, June 27th. Finally, Zacks Research upgraded shares of NIKE from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $78.22.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the company's stock in a transaction dated 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 transaction, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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.