ING Groep NV Purchases 45,451 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• ING Groep NV has increased its stake in NIKE, Inc. by 24.9%, acquiring a total of 227,781 shares valued at approximately $14.46 million as of the end of the most recent reporting period.
• Several analysts have upgraded their ratings for NIKE, with JPMorgan Chase raising the price target from $64.00 to $93.00 and a consensus average price target of $78.22.
• NIKE's quarterly earnings exceeded expectations, reporting $0.14 EPS compared to the predicted $0.12 EPS, despite a 11.9% decline in revenue year-over-year.

ING Groep NV raised its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 24.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 227,781 shares of the footwear maker's stock after buying an additional 45,451 shares during the period. ING Groep NV's holdings in NIKE were worth $14,460,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after acquiring an additional 160,980 shares during the period. Bank Pictet & Cie Europe AG increased its position in NIKE by 10.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock valued at $14,447,000 after acquiring an additional 17,888 shares during the period. Thoroughbred Financial Services LLC boosted its position in NIKE by 20.1% during the 4th quarter. Thoroughbred Financial Services LLC now owns 3,372 shares of the footwear maker's stock worth $255,000 after acquiring an additional 564 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of NIKE by 7.3% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 14,930 shares of the footwear maker's stock worth $1,130,000 after purchasing an additional 1,019 shares in the last quarter. Finally, Peapack Gladstone Financial Corp increased its holdings in shares of NIKE by 21.2% during the fourth quarter. Peapack Gladstone Financial Corp now owns 70,872 shares of the footwear maker's stock valued at $5,363,000 after purchasing an additional 12,377 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NKE shares. Berenberg Bank started coverage on shares of NIKE in a report on Tuesday, April 15th. They issued a "hold" rating and a $58.00 price objective for the company. DZ Bank lowered shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 price objective on the stock. in a research note on Thursday, July 10th. Citigroup lifted their price target on NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, June 27th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $70.00 target price on shares of NIKE in a research note on Friday, June 27th. Finally, Royal Bank Of Canada reduced their price objective on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $78.22.

NIKE Price Performance

Shares of NYSE:NKE traded down $1.20 during trading on Thursday, reaching $74.28. The stock had a trading volume of 8,712,231 shares, compared to its average volume of 11,664,490. The stock has a market capitalization of $109.71 billion, a PE ratio of 34.39, a P/E/G ratio of 2.74 and a beta of 1.27. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62. The business's 50-day moving average price is $69.43 and its 200 day moving average price is $67.63. 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 (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping 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 firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same period last year, the company earned $0.99 earnings per share. The company's revenue was down 11.9% on a year-over-year basis. As a group, equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. 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.