MBB Public Markets I LLC Takes $276,000 Position in NIKE, Inc. $NKE

Key Points

• MBB Public Markets I LLC has acquired a new stake in NIKE, Inc., purchasing 4,345 shares valued at approximately $276,000 in the first quarter.
• Institutional investors collectively own 64.25% of NIKE's stock, with significant increases in holdings by firms like Goldman Sachs and Wellington Management.
• NIKE has recently experienced several analyst upgrades, with Cowen and TD Cowen both raising their ratings to buy and increasing their price targets significantly.

MBB Public Markets I LLC acquired a new stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,345 shares of the footwear maker's stock, valued at approximately $276,000.

Several other large investors also recently made changes to their positions in NKE. Goldman Sachs Group Inc. boosted its position in shares of NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after purchasing an additional 9,043,180 shares in the last quarter. Jennison Associates LLC bought a new position in shares of NIKE during the 1st quarter valued at about $509,051,000. Nuveen LLC acquired a new position in shares of NIKE in the first quarter worth about $502,285,000. Finally, Vanguard Group Inc. boosted its holdings in shares of NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock worth $7,182,831,000 after buying an additional 4,957,494 shares during the period. Institutional investors own 64.25% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on NKE. Cowen upgraded shares of NIKE from a "hold" rating to a "buy" rating in a report on Wednesday. TD Cowen upgraded shares of NIKE from a "hold" rating to a "buy" rating and raised their target price for the stock from $62.00 to $85.00 in a report on Wednesday. Jefferies Financial Group reiterated a "buy" rating and issued a $115.00 target price on shares of NIKE in a report on Friday, August 22nd. Robert W. Baird raised their target price on shares of NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a report on Friday, June 27th. Finally, DZ Bank cut shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price for the company. in a report on Thursday, July 10th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, NIKE presently has an average rating of "Moderate Buy" and an average target price of $78.67.

NIKE Price Performance

NYSE NKE opened at $74.32 on Friday. The firm has a market capitalization of $109.76 billion, a price-to-earnings ratio of 34.41, a price-to-earnings-growth ratio of 2.70 and a beta of 1.24. The company has a 50 day simple moving average of $75.46 and a 200-day simple moving average of $67.87. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last issued 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. The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company's revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 earnings per share. Equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is presently 74.07%.

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 shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.80% of the company's stock.

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.

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