NIKE, Inc. $NKE Shares Bought by PineStone Asset Management Inc.

Key Points

• PineStone Asset Management Inc. has increased its stake in NIKE, Inc. by 17.1%, owning approximately 1.68 million shares, which accounts for about 0.8% of its holdings.
• NIKE's recent quarterly earnings showed an EPS of $0.14, surpassing estimates, but its revenue decreased by 11.9% year-over-year.
• The company announced a quarterly dividend of $0.40 per share, with a dividend yield of 2.3%, indicating a commitment to returning value to shareholders.

PineStone Asset Management Inc. raised its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 17.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,684,895 shares of the footwear maker's stock after acquiring an additional 246,550 shares during the quarter. NIKE accounts for about 0.8% of PineStone Asset Management Inc.'s holdings, making the stock its 27th biggest position. PineStone Asset Management Inc. owned about 0.11% of NIKE worth $119,695,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in NKE. Stone House Investment Management LLC acquired a new position in shares of NIKE during the 1st quarter worth $25,000. Saudi Central Bank acquired a new position in shares of NIKE during the 1st quarter worth $30,000. Matrix Trust Co raised its stake in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after buying an additional 153 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of NIKE during the 2nd quarter worth $35,000. Finally, Roxbury Financial LLC raised its stake in shares of NIKE by 52.1% during the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after buying an additional 201 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Stock Down 2.7%

NKE opened at $69.32 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The stock has a market capitalization of $102.38 billion, a price-to-earnings ratio of 32.09, a price-to-earnings-growth ratio of 2.59 and a beta of 1.24. The business has a 50-day moving average of $75.05 and a two-hundred day moving average of $67.38. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62.

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, beating the consensus estimate of $0.12 by $0.02. The company 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 firm's revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.99 EPS. On average, research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company 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 dividend of $0.40 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. NIKE's payout ratio is presently 74.07%.

Insider Activity

In other news, Chairman Mark G. Parker sold 86,078 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction 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. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NKE shares. Cowen raised NIKE from a "hold" rating to a "buy" rating in a research note on Wednesday, September 10th. DZ Bank cut NIKE from a "buy" rating to a "hold" rating and set a $76.00 price objective for the company. in a research report on Thursday, July 10th. Bank of America lifted their price objective on NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Citigroup upgraded NIKE from a "neutral" rating to a "positive" rating in a research report on Friday, September 19th. Finally, Morgan Stanley lifted their price objective on NIKE from $64.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, NIKE currently has an average rating of "Moderate Buy" and a consensus target price of $79.46.

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.

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