Federation des caisses Desjardins du Quebec Acquires 17,232 Shares of NIKE, Inc. $NKE

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in NIKE, Inc. by 10.2%, acquiring an additional 17,232 shares, bringing its total holdings to 186,560 shares valued at approximately $11.84 million.
• Insider transactions were highlighted, notably Chairman Mark G. Parker selling 110,000 shares for around $7.95 million, reducing his ownership by 11.55%.
• NIKE recently announced a quarterly dividend of $0.40 per share, with an annualized yield of 2.2%, set to be paid on October 1st to investors of record on September 2nd.

Federation des caisses Desjardins du Quebec boosted its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 10.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 186,560 shares of the footwear maker's stock after purchasing an additional 17,232 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in NIKE were worth $11,844,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of NKE. Stone House Investment Management LLC acquired a new stake in NIKE in the first quarter valued at about $25,000. Heck Capital Advisors LLC bought a new position in NIKE in the fourth quarter valued at about $28,000. Saudi Central Bank acquired a new stake in shares of NIKE during the first quarter valued at about $30,000. Roxbury Financial LLC grew its holdings in shares of NIKE by 52.1% during the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after purchasing an additional 201 shares during the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of NIKE in the first quarter valued at approximately $37,000. 64.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. raised NIKE from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $64.00 to $93.00 in a report on Monday, July 28th. Sanford C. Bernstein reissued an "outperform" rating on shares of NIKE in a research note on Monday, August 18th. UBS Group initiated coverage on shares of NIKE in a research report on Sunday, July 6th. They set a "buy" rating on the stock. Telsey Advisory Group restated a "market perform" rating and set a $70.00 target price on shares of NIKE in a research report on Friday, June 27th. Finally, Citigroup lifted their target price on NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and a consensus target price of $78.22.

NIKE Stock Down 1.9%

NKE stock traded down $1.44 during mid-day trading on Friday, reaching $73.91. 13,753,260 shares of the company traded hands, compared to its average volume of 8,994,767. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The firm's 50 day moving average price is $75.48 and its 200 day moving average price is $67.97. The stock has a market cap of $109.16 billion, a price-to-earnings ratio of 34.22, a P/E/G ratio of 2.74 and a beta of 1.24. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The company 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 company's revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter last year, the company earned $0.99 earnings per share. As a group, equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is presently 74.07%.

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.