IQ EQ FUND MANAGEMENT IRELAND Ltd Purchases 39,480 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in NIKE, Inc. by 119.6%, owning a total of 72,480 shares worth approximately $4.6 million as of its latest SEC filing.
• Several analysts have raised their price targets for NIKE stock, with Needham & Company increasing it from $66 to $78, reinforcing a "buy" rating.
• NIKE reported a net revenue of $11.10 billion for the last quarter, surpassing analyst expectations, although it represented an 11.9% decline compared to the same quarter the previous year.

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 119.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 72,480 shares of the footwear maker's stock after buying an additional 39,480 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in NIKE were worth $4,601,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its position in NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after buying an additional 160,980 shares during the period. Bank Pictet & Cie Europe AG lifted its stake in shares of NIKE by 10.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock worth $14,447,000 after acquiring an additional 17,888 shares during the period. Thoroughbred Financial Services LLC increased its holdings in shares of NIKE by 20.1% in the 4th quarter. Thoroughbred Financial Services LLC now owns 3,372 shares of the footwear maker's stock valued at $255,000 after purchasing an additional 564 shares in the last quarter. Prudential PLC increased its holdings in shares of NIKE by 152.9% in the 4th quarter. Prudential PLC now owns 67,444 shares of the footwear maker's stock valued at $5,103,000 after purchasing an additional 40,774 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new position in NIKE during the 4th quarter valued at about $30,037,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Buying and Selling at NIKE

In other 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 transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.80% of the stock is owned by corporate insiders.

NIKE Stock Performance

Shares of NKE stock traded down $0.18 during trading on Friday, reaching $74.17. 6,607,611 shares of the company's stock were exchanged, compared to its average volume of 17,157,150. The firm's fifty day moving average price is $69.43 and its 200-day moving average price is $67.63. The stock has a market capitalization of $109.54 billion, a PE ratio of 34.34, a PEG ratio of 2.74 and a beta of 1.27. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

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

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. NIKE's dividend payout ratio is presently 74.07%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NKE. Wall Street Zen cut shares of NIKE from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research note on Friday, June 20th. Stifel Nicolaus lowered their target price on shares of NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Wells Fargo & Company boosted their price target on shares of NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Finally, Citigroup upped their price objective on shares of NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $78.22.

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.