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 stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 24.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 227,781 shares of the footwear maker's stock after purchasing an additional 45,451 shares during the period. ING Groep NV's holdings in NIKE were worth $14,460,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Heck Capital Advisors LLC bought a new stake in shares of NIKE in the 4th quarter worth approximately $28,000. EnRich Financial Partners LLC raised its holdings in shares of NIKE by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock worth $31,000 after purchasing an additional 273 shares during the period. Roxbury Financial LLC raised its holdings in NIKE by 52.1% during the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after acquiring an additional 201 shares during the period. N.E.W. Advisory Services LLC bought a new stake in NIKE during the 1st quarter valued at $37,000. Finally, Ritter Daniher Financial Advisory LLC DE raised its holdings in NIKE by 95.1% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 513 shares of the footwear maker's stock valued at $39,000 after acquiring an additional 250 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Wednesday, July 16th. The shares were 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. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on NKE. Williams Trading lowered their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 21st. JPMorgan Chase & Co. raised shares of NIKE from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $64.00 to $93.00 in a report on Monday, July 28th. Jefferies Financial Group reissued a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Citigroup boosted their price target on shares of NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, June 27th. Finally, Berenberg Bank started coverage on shares of NIKE in a research report on Tuesday, April 15th. They set a "hold" rating and a $58.00 price target for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.22.

NIKE Trading Down 0.2%

Shares of NYSE:NKE traded down $0.18 during midday trading on Friday, hitting $74.17. 6,733,814 shares of the stock traded hands, compared to its average volume of 11,448,546. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The stock has a market capitalization of $109.54 billion, a PE ratio of 34.34, a P/E/G ratio of 2.70 and a beta of 1.27. The business's 50 day moving average is $69.70 and its two-hundred day moving average is $67.64. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

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

NIKE Dividend Announcement

The business also recently declared 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 yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio is presently 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.