NIKE, Inc. $NKE Shares Purchased by Allstate Corp

Key Points

• Allstate Corp more than doubled its NIKE stake in the fourth quarter, buying an additional 44,936 shares and bringing its total holdings to 88,277 shares worth about $5.6 million.
• Several other institutional investors also increased their NIKE positions, and overall 64.25% of the stock is owned by institutions and hedge funds.
• NIKE reported quarterly EPS of $0.35, beating estimates, while revenue came in at $11.28 billion. The company also declared a quarterly dividend of $0.41 per share, implying a 3.7% annualized yield.

Allstate Corp boosted its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 103.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,277 shares of the footwear maker's stock after purchasing an additional 44,936 shares during the quarter. Allstate Corp's holdings in NIKE were worth $5,624,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Vanguard Group Inc. boosted its holdings in shares of NIKE by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker's stock valued at $7,453,658,000 after acquiring an additional 1,702,342 shares during the period. Capital World Investors boosted its holdings in shares of NIKE by 0.7% in the third quarter. Capital World Investors now owns 42,239,013 shares of the footwear maker's stock valued at $2,945,326,000 after acquiring an additional 286,615 shares during the period. Flossbach Von Storch SE boosted its holdings in shares of NIKE by 29.3% in the fourth quarter. Flossbach Von Storch SE now owns 12,753,317 shares of the footwear maker's stock valued at $812,514,000 after acquiring an additional 2,886,856 shares during the period. Invesco Ltd. boosted its holdings in shares of NIKE by 3.3% in the third quarter. Invesco Ltd. now owns 12,561,334 shares of the footwear maker's stock valued at $875,902,000 after acquiring an additional 404,136 shares during the period. Finally, Viking Global Investors LP boosted its holdings in shares of NIKE by 29.1% in the third quarter. Viking Global Investors LP now owns 8,996,579 shares of the footwear maker's stock valued at $627,331,000 after acquiring an additional 2,029,381 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NKE has been the subject of several research analyst reports. Evercore decreased their price objective on NIKE from $69.00 to $57.00 and set an "outperform" rating for the company in a report on Wednesday, April 1st. Williams Trading decreased their price objective on NIKE from $80.00 to $57.00 and set a "buy" rating for the company in a report on Wednesday, April 1st. HSBC downgraded NIKE from a "buy" rating to a "hold" rating and decreased their price objective for the company from $90.00 to $48.00 in a report on Monday, April 13th. CICC Research downgraded NIKE from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $69.00 to $58.00 in a report on Monday, April 6th. Finally, Robert W. Baird decreased their price objective on NIKE from $85.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, April 1st. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $62.04.

NIKE Price Performance

NIKE stock opened at $44.85 on Wednesday. NIKE, Inc. has a 12 month low of $41.35 and a 12 month high of $80.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45. The business has a 50 day simple moving average of $46.22 and a 200-day simple moving average of $57.04. The stock has a market capitalization of $66.42 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The business had revenue of $11.28 billion during the quarter, compared to analysts' expectations of $11.23 billion. During the same quarter in the prior year, the business earned $0.54 earnings per share. The company's quarterly revenue was up .1% compared to the same quarter last year. Equities analysts predict that NIKE, Inc. will post 1.51 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a $0.41 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 3.7%. NIKE's dividend payout ratio is presently 108.61%.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. acquired 4,000 shares of the business's stock in a transaction on Thursday, April 9th. The stock was purchased at an average price of $43.34 per share, for a total transaction of $173,360.00. Following the completion of the transaction, the director owned 41,022 shares of the company's stock, valued at $1,777,893.48. The trade was a 10.80% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Holmes Swan acquired 11,781 shares of the business's stock in a transaction on Tuesday, April 7th. The stock was acquired at an average price of $42.44 per share, with a total value of $499,985.64. Following the transaction, the director directly owned 55,074 shares of the company's stock, valued at $2,337,340.56. This represents a 27.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is owned by insiders.

About NIKE

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).

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