NIKE, Inc. (NYSE:NKE) Shares Bought by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS raised its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 126.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,702 shares of the footwear maker's stock after acquiring an additional 14,337 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in NIKE were worth $1,632,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of NKE. Norges Bank acquired a new position in shares of NIKE during the 4th quarter worth approximately $1,126,288,000. Wellington Management Group LLP raised its stake in shares of NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after buying an additional 8,898,591 shares during the period. Renaissance Technologies LLC increased its position in shares of NIKE by 1,302.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock worth $196,901,000 after purchasing an additional 2,416,601 shares in the last quarter. Capital World Investors raised its stake in NIKE by 10.3% in 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 last quarter. Finally, Flossbach Von Storch SE raised its stake in NIKE by 24.0% in the 1st quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock valued at $652,995,000 after purchasing an additional 1,988,547 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on NKE. 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 research note on Friday, June 27th. Cfra Research raised NIKE to a "moderate buy" rating in a research note on Friday, March 21st. Stifel Nicolaus reduced their price objective on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Royal Bank Of Canada reduced their price objective on NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 20th. Finally, Robert W. Baird increased their price objective on NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a research note on Friday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and an average price target of $77.15.

NIKE Trading Down 0.7%

Shares of NYSE NKE traded down $0.48 during mid-day trading on Friday, reaching $72.50. 8,789,897 shares of the company's stock were exchanged, compared to its average volume of 17,779,018. The firm has a market capitalization of $107.24 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 2.65 and a beta of 1.25. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The company's 50-day moving average is $65.21 and its 200-day moving average is $67.29.

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

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.21%. The ex-dividend date was Monday, June 2nd. NIKE's dividend payout ratio is currently 74.07%.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated 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. The trade was a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

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.