1832 Asset Management L.P. Purchases 30,965 Shares of NIKE, Inc. $NKE

Key Points

• 1832 Asset Management L.P. increased its stake in NIKE, Inc. by 2.6% during the first quarter, holding approximately 1.24 million shares valued at $78.65 million.
• Analysts have shown optimism towards NIKE's stock, with upgrades from firms like JPMorgan Chase and Argus, reflecting an overall consensus rating of "Moderate Buy" and a target price averaging $78.22.
• NIKE recently declared a quarterly dividend of $0.40 per share, resulting in a 2.0% annual yield, with a dividend payout ratio of 74.07%.

1832 Asset Management L.P. boosted its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 2.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,239,051 shares of the footwear maker's stock after buying an additional 30,965 shares during the quarter. 1832 Asset Management L.P. owned 0.08% of NIKE worth $78,655,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NKE. Brighton Jones LLC lifted its holdings in shares of NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after purchasing an additional 160,980 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in shares of NIKE by 10.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock valued at $14,447,000 after purchasing an additional 17,888 shares during the last quarter. MGO One Seven LLC lifted its holdings in shares of NIKE by 55.3% during the fourth quarter. MGO One Seven LLC now owns 26,027 shares of the footwear maker's stock valued at $1,969,000 after purchasing an additional 9,268 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of NIKE by 79.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 173,792 shares of the footwear maker's stock valued at $13,151,000 after purchasing an additional 77,044 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its holdings in shares of NIKE by 46.1% during the fourth quarter. Integrated Wealth Concepts LLC now owns 25,346 shares of the footwear maker's stock valued at $1,918,000 after purchasing an additional 7,998 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

NIKE Stock Performance

NKE traded up $0.76 during midday trading on Monday, reaching $79.14. The company's stock had a trading volume of 12,481,342 shares, compared to its average volume of 10,106,631. The stock has a market cap of $116.88 billion, a P/E ratio of 36.64, a PEG ratio of 2.85 and a beta of 1.27. The company has a fifty day simple moving average of $72.85 and a 200 day simple moving average of $67.69. 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, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 23.33% and a net margin of 6.95%.The company's revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 EPS. Research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.0%. NIKE's dividend payout ratio (DPR) is 74.07%.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NKE. Robert W. Baird upped their target price on NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a report on Friday, June 27th. Argus raised NIKE to a "buy" rating in a report on Sunday, July 6th. Wall Street Zen lowered NIKE from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Royal Bank Of Canada lowered their price objective on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 20th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of NIKE in a report on Monday, August 18th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, NIKE presently has an average 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.