T. Rowe Price Investment Management Inc. Boosts Stock Holdings in NIKE, Inc. $NKE

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in NIKE, Inc. by 30.4%, owning 226,612 shares valued at approximately $14.39 million as of its latest filing.
• In a recent insider transaction, NIKE's Chairman, Mark G. Parker, sold 86,078 shares at an average price of $75.93, reducing his stake by 10.36%.
• NIKE announced a quarterly dividend of $0.40 per share, representing an annualized yield of 2.0%, with a payout ratio currently at 74.07%.

T. Rowe Price Investment Management Inc. raised its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 30.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 226,612 shares of the footwear maker's stock after buying an additional 52,820 shares during the period. T. Rowe Price Investment Management Inc.'s holdings in NIKE were worth $14,386,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new stake in NIKE during the fourth quarter valued at approximately $28,000. Stone House Investment Management LLC purchased a new stake in shares of NIKE in the first quarter worth $25,000. Putney Financial Group LLC purchased a new stake in shares of NIKE in the fourth quarter worth $40,000. Minot DeBlois Advisors LLC purchased a new stake in shares of NIKE in the fourth quarter worth $42,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of NIKE in the first quarter worth $37,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NKE has been the subject of a number of analyst reports. Wall Street Zen cut shares of NIKE from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. The Goldman Sachs Group increased their price objective on shares of NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a research note on Friday, June 27th. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Finally, Wells Fargo & Company increased their price objective on shares of NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, NIKE currently has an average rating of "Moderate Buy" and an average price target of $78.22.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.80% of the company's stock.

NIKE Trading Down 0.6%

Shares of NKE traded down $0.45 during midday trading on Wednesday, hitting $78.20. The stock had a trading volume of 12,633,901 shares, compared to its average volume of 9,298,987. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62. The firm has a market cap of $115.50 billion, a PE ratio of 36.20, a price-to-earnings-growth ratio of 2.86 and a beta of 1.27. 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's 50 day moving average is $73.60 and its 200 day moving average is $67.84.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results 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 business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business's revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.99 earnings per share. As a group, analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

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

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.