IFM Investors Pty Ltd Increases Holdings in NIKE, Inc. $NKE

Key Points

• IFM Investors Pty Ltd increased its holdings in NIKE, Inc. by 3.4% in Q2, owning a total of 224,314 shares worth approximately $15.94 million.
• Institutional investors own 64.25% of NIKE's stock, with multiple firms increasing their positions, signaling strong interest in the company.
• Analysts have varying opinions on NIKE's stock, with a consensus rating of "Moderate Buy" and a target price of $78.73, following several upgrades and downgrades from different financial institutions.

IFM Investors Pty Ltd boosted its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 3.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 224,314 shares of the footwear maker's stock after purchasing an additional 7,315 shares during the period. IFM Investors Pty Ltd's holdings in NIKE were worth $15,935,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Spire Wealth Management grew its position in NIKE by 4.4% in the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock worth $627,000 after purchasing an additional 416 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock valued at $69,932,000 after acquiring an additional 5,601 shares during the period. Mackenzie Financial Corp grew its position in shares of NIKE by 75.1% during the 4th quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker's stock valued at $40,835,000 after acquiring an additional 231,417 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of NIKE during the 1st quarter valued at $25,963,000. Finally, Olstein Capital Management L.P. grew its position in shares of NIKE by 42.2% during the 1st quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker's stock valued at $5,777,000 after acquiring an additional 27,000 shares during the period. Institutional investors own 64.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday, June 27th. Citigroup raised shares of NIKE from a "neutral" rating to a "positive" rating in a report on Friday. Bank of America increased their target price on shares of NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, June 27th. JPMorgan Chase & Co. raised shares of NIKE from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $64.00 to $93.00 in a report on Monday, July 28th. Finally, Piper Sandler upped their target price on shares of NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $79.04.

Insider Buying and Selling

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 in the company, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is currently owned by insiders.

NIKE Price Performance

NIKE stock traded down $1.22 during mid-day trading on Friday, hitting $70.88. The stock had a trading volume of 33,397,876 shares, compared to its average volume of 10,678,684. The firm has a market capitalization of $104.68 billion, a P/E ratio of 32.81, a P/E/G ratio of 2.57 and a beta of 1.24. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The firm's 50 day moving average is $75.19 and its 200 day moving average is $67.50. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62.

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

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.3%. NIKE's payout ratio is presently 74.07%.

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.