Invesco Ltd. Grows Position in NIKE, Inc. (NYSE:NKE)

Key Points

• Invesco Ltd. has increased its stake in NIKE, Inc. by 17.8%, acquiring an additional 1,103,281 shares, bringing their total holdings to approximately 7.3 million shares worth about $464 million.
• Multiple large institutional investors, including Goldman Sachs and Vanguard Group, have significantly raised their positions in NIKE during the first quarter.
• Despite recent fluctuations in stock ratings, NIKE maintains a consensus target price of $78.22 and a current average rating categorized as "Moderate Buy."

Invesco Ltd. boosted its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 17.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,317,084 shares of the footwear maker's stock after acquiring an additional 1,103,281 shares during the quarter. Invesco Ltd. owned 0.49% of NIKE worth $464,488,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. AlTi Global Inc. increased its holdings in NIKE by 0.4% during the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock worth $2,813,000 after purchasing an additional 150 shares during the period. Cohen & Steers Inc. increased its holdings in NIKE by 5.3% during the 4th quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock worth $240,000 after purchasing an additional 160 shares during the period. Peregrine Asset Advisers Inc. increased its holdings in NIKE by 1.2% during the 1st quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker's stock worth $934,000 after purchasing an additional 181 shares during the period. Aaron Wealth Advisors LLC increased its holdings in NIKE by 4.3% during the 1st quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker's stock worth $296,000 after purchasing an additional 192 shares during the period. Finally, Crew Capital Management Ltd. increased its holdings in NIKE by 1.4% during the 1st quarter. Crew Capital Management Ltd. now owns 13,752 shares of the footwear maker's stock worth $873,000 after purchasing an additional 192 shares during the period. 64.25% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 110,000 shares of the firm's 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 completion of the transaction, the chairman directly owned 842,361 shares of the company's stock, valued at $60,894,276.69. This trade represents a 11.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NKE shares. Wall Street Zen downgraded NIKE from a "hold" rating to a "sell" rating in a report on Friday, June 27th. The Goldman Sachs Group increased their price objective on NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a report on Friday, June 27th. Wells Fargo & Company increased their price objective on NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Finally, Barclays increased their price objective on NIKE from $53.00 to $64.00 and gave the company an "equal weight" rating in a report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $78.22.

NIKE Price Performance

Shares of NKE traded up $0.89 during mid-day trading on Tuesday, hitting $74.91. The company's stock had a trading volume of 6,397,175 shares, compared to its average volume of 10,926,941. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The firm has a market capitalization of $110.63 billion, a P/E ratio of 34.68, a P/E/G ratio of 2.69 and a beta of 1.27. The firm has a 50-day simple moving average of $70.20 and a 200 day simple moving average of $67.60. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period last year, the business posted $0.99 EPS. NIKE's quarterly revenue was down 11.9% on a year-over-year basis. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

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

NIKE Company 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.