NIKE, Inc. $NKE Stock Holdings Lifted by Chiron Capital Management LLC

Key Points

• Chiron Capital Management LLC significantly increased its stake in NIKE, Inc. by 71.4%, making NIKE its 4th largest holding valued at $2.6 million.
• Several other institutional investors, including Vanguard Group and Goldman Sachs, also raised their stakes in NIKE during the same quarter, contributing to a total of 64.25% institutional ownership.
• NIKE's recent quarterly earnings of $11.10 billion exceeded expectations, although revenue fell by 11.9% year-over-year, and the company announced a quarterly dividend of $0.40 per share.

Chiron Capital Management LLC raised its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 71.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 41,523 shares of the footwear maker's stock after purchasing an additional 17,301 shares during the quarter. NIKE accounts for 2.4% of Chiron Capital Management LLC's investment portfolio, making the stock its 4th biggest holding. Chiron Capital Management LLC's holdings in NIKE were worth $2,636,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock valued at $7,182,831,000 after buying an additional 4,957,494 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after buying an additional 9,043,180 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after buying an additional 20,688,013 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of NIKE by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after buying an additional 620,214 shares in the last quarter. Finally, Flossbach Von Storch SE boosted its stake in shares of NIKE by 24.0% in the first quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock valued at $652,995,000 after buying an additional 1,988,547 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction 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 completion of the transaction, the chairman directly owned 842,361 shares of the company's stock, valued at $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Royal Bank Of Canada decreased their price target on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 20th. Bank of America lifted their price target on NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Needham & Company LLC lifted their price target on NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research note 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 research note on Friday, June 27th. Finally, DZ Bank cut NIKE from a "buy" rating to a "hold" rating and set a $76.00 price objective for the company. in a report on Thursday, July 10th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, NIKE presently has an average rating of "Moderate Buy" and an average price target of $78.22.

NIKE Stock Performance

Shares of NKE stock opened at $77.34 on Tuesday. The stock has a fifty day moving average price of $74.65 and a 200 day moving average price of $67.89. The stock has a market cap of $114.22 billion, a PE ratio of 35.81, a P/E/G ratio of 2.81 and a beta of 1.24. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $90.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21.

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 (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The firm had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. NIKE's revenue was down 11.9% on a year-over-year basis. Sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business 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 2.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's payout ratio is 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.

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