KBC Group NV boosted its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 65.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 372,042 shares of the footwear maker's stock after buying an additional 146,693 shares during the quarter. KBC Group NV's holdings in NIKE were worth $15,273,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cornerstone Financial Management LLC bought a new stake in shares of NIKE in the 4th quarter worth approximately $26,000. Sankala Group LLC bought a new stake in NIKE during the fourth quarter worth approximately $26,000. J.Safra Asset Management Corp bought a new stake in NIKE during the fourth quarter worth approximately $29,000. Kemnay Advisory Services Inc. acquired a new position in NIKE in the fourth quarter worth approximately $30,000. Finally, Scarborough Advisors LLC bought a new position in shares of NIKE in the first quarter valued at $25,000. 64.25% of the stock is currently owned by institutional investors.
NIKE Trading Down 1.2%
NYSE:NKE opened at $40.73 on Friday. The company has a market capitalization of $60.42 billion, a P/E ratio of 19.49, a P/E/G ratio of 1.81 and a beta of 1.11. The stock's 50 day moving average price is $42.90 and its 200 day moving average price is $48.73. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. NIKE, Inc. has a 52 week low of $40.00 and a 52 week high of $80.17.
NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping the consensus estimate of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. During the same period in the previous year, the firm posted $0.14 earnings per share. The company's revenue for the quarter was down 1.1% compared to the same quarter last year. On average, research analysts forecast that NIKE, Inc. will post 1.74 EPS for the current fiscal year.
NIKE Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.0%. NIKE's payout ratio is currently 78.47%.
Analyst Ratings Changes
A number of equities analysts recently issued reports on NKE shares. BNP Paribas Exane restated an "underperform" rating on shares of NIKE in a report on Wednesday, July 22nd. Weiss Ratings raised NIKE from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, July 17th. Bank of America reduced their price objective on shares of NIKE from $55.00 to $47.00 and set a "neutral" rating for the company in a research note on Wednesday, July 1st. UBS Group set a $48.00 target price on shares of NIKE and gave the stock a "neutral" rating in a research report on Wednesday, July 1st. Finally, Zacks Research lowered shares of NIKE from a "hold" rating to a "strong sell" rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $53.53.
Check Out Our Latest Stock Analysis on NIKE
Insider Buying and Selling
In other news, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64. Following the transaction, the executive vice president owned 53,133 shares of the company's stock, valued at approximately $2,453,681.94. This represents a 24.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Venkatesh Alagirisamy sold 890 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total value of $37,024.00. Following the completion of the sale, the chief operating officer owned 74,820 shares of the company's stock, valued at approximately $3,112,512. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 26,142 shares of company stock worth $1,169,380. Insiders own 1.10% of the company's stock.
NIKE Profile
(
Free Report)
Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.
The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).
See Also
Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider NIKE, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NIKE wasn't on the list.
While NIKE currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.
"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
