International Assets Investment Management LLC increased its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 66.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,532 shares of the footwear maker's stock after purchasing an additional 4,585 shares during the quarter. International Assets Investment Management LLC's holdings in NIKE were worth $732,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of NIKE in the fourth quarter valued at about $1,126,288,000. Wellington Management Group LLP boosted its holdings in NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after acquiring an additional 8,898,591 shares during the last quarter. Renaissance Technologies LLC increased its position in NIKE by 1,302.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after purchasing an additional 2,416,601 shares during the period. Capital World Investors increased its position in NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after purchasing an additional 2,288,627 shares during the period. Finally, Raymond James Financial Inc. bought a new position in NIKE during the 4th quarter worth approximately $156,438,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the stock. BMO Capital Markets reduced their price objective on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Bank of America dropped their target price on shares of NIKE from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Stifel Nicolaus decreased their price target on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Dbs Bank raised NIKE from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Finally, China Renaissance started coverage on NIKE in a research report on Wednesday, March 19th. They set a "hold" rating on the stock. Sixteen 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $77.59.
Check Out Our Latest Stock Analysis on NIKE
NIKE Price Performance
NKE opened at $60.84 on Thursday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $94.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.19 and a quick ratio of 1.52. The company has a market capitalization of $89.99 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 2.21 and a beta of 1.21. The firm's fifty day moving average price is $60.17 and its two-hundred day moving average price is $67.73.
NIKE Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.63%. NIKE's dividend payout ratio (DPR) is 53.16%.
Insider Buying and Selling at NIKE
In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares of the company's stock, valued at $1,869,726.18. The trade was a 36.78% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company's stock.
About NIKE
(
Free Report)
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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