Channing Capital Management LLC Acquires 12,065 Shares of NIKE, Inc. $NKE

Key Points

• Channing Capital Management LLC increased its holdings in NKE by 12.8% to own 106,673 shares valued at $6.77 million, according to a recent SEC filing.
• Several hedge funds, including Vanguard and Goldman Sachs, raised their stakes in NIKE, indicating strong institutional interest with 64.25% of the company's stock owned by institutional investors.
• NIKE recently declared a quarterly dividend of $0.40 per share, resulting in an annualized dividend of $1.60 and a yield of 2.1%.

Channing Capital Management LLC raised its position in NIKE, Inc. (NYSE:NKE - Free Report) by 12.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,673 shares of the footwear maker's stock after purchasing an additional 12,065 shares during the period. Channing Capital Management LLC's holdings in NIKE were worth $6,772,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NKE. AlTi Global Inc. boosted its position in NIKE by 0.4% during the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock worth $2,813,000 after acquiring an additional 150 shares during the period. Peregrine Asset Advisers Inc. boosted its position in NIKE by 1.2% during the 1st quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker's stock worth $934,000 after acquiring an additional 181 shares during the period. Aaron Wealth Advisors LLC boosted its position in NIKE by 4.3% during the 1st quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker's stock worth $296,000 after acquiring an additional 192 shares during the period. Crew Capital Management Ltd. boosted its position in NIKE by 1.4% during the 1st quarter. Crew Capital Management Ltd. now owns 13,752 shares of the footwear maker's stock worth $873,000 after acquiring an additional 192 shares during the period. Finally, Sculati Wealth Management LLC boosted its position in NIKE by 1.4% during the 4th quarter. Sculati Wealth Management LLC now owns 14,387 shares of the footwear maker's stock worth $1,089,000 after acquiring an additional 195 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NKE stock traded up $2.2240 during trading on Friday, reaching $78.4040. The company had a trading volume of 10,979,474 shares, compared to its average volume of 9,917,753. The firm's 50 day simple moving average is $72.51 and its two-hundred day simple moving average is $67.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The company has a market capitalization of $115.79 billion, a PE ratio of 36.30, a PEG ratio of 2.85 and a beta of 1.27.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same period last year, the business earned $0.99 EPS. The firm's revenue was down 11.9% compared to the same quarter last year. Sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid 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 of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is presently 74.07%.

Wall Street Analyst Weigh In

A number of brokerages have commented on NKE. Bank of America raised 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. Wall Street Zen lowered NIKE from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Citigroup lifted their price target on NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, June 27th. Deutsche Bank Aktiengesellschaft reduced their price target on NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a report on Friday, June 20th. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of NIKE in a report on Friday, May 23rd. 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.22.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.80% of the company's stock.

NIKE Company 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.