Longfellow Investment Management Co. LLC Has $376,000 Stake in NIKE, Inc. (NYSE:NKE)

Key Points

• Longfellow Investment Management Co. LLC significantly increased its stake in NIKE by 19,666.7%, now owning 5,930 shares valued at approximately $376,000.
• Other institutional investors have also raised their holdings in NIKE, with Vanguard Group Inc. owning over 113 million shares valued at about $7.18 billion after a 4.6% increase.
• NIKE's quarterly earnings showed an EPS of $0.14, outperforming expectations, although revenue declined 11.9% year over year.

Longfellow Investment Management Co. LLC boosted its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 19,666.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,930 shares of the footwear maker's stock after buying an additional 5,900 shares during the quarter. Longfellow Investment Management Co. LLC's holdings in NIKE were worth $376,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new stake in shares of NIKE during the fourth quarter worth $28,000. Roxbury Financial LLC increased its position in NIKE by 52.1% in the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after purchasing an additional 201 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of NIKE during the 1st quarter worth about $37,000. Putney Financial Group LLC acquired a new stake in shares of NIKE during the 4th quarter valued at about $40,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of NIKE during the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Activity

In related 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 sale, the chairman owned 842,361 shares of the company's stock, valued at $60,894,276.69. The trade was a 11.55% decrease in their position. The sale 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.

NIKE Stock Performance

Shares of NYSE NKE traded up $0.89 during trading hours on Tuesday, reaching $74.91. The stock had a trading volume of 6,397,175 shares, compared to its average volume of 10,926,941. The company has a market cap of $110.63 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 2.69 and a beta of 1.27. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The business's fifty day moving average is $70.20 and its two-hundred day moving average is $67.60. 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 released 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. The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm's revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period last year, the firm earned $0.99 EPS. As a group, research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. NIKE's dividend payout ratio is presently 74.07%.

Analyst Ratings Changes

Several brokerages recently weighed in on NKE. Barclays raised their price objective on shares of NIKE from $53.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday, June 27th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $70.00 price objective on shares of NIKE in a research note on Friday, June 27th. 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 research report on Monday, April 21st. Hsbc Global Res raised NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Finally, Berenberg Bank started coverage on NIKE in a report on Tuesday, April 15th. They set a "hold" rating and a $58.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, NIKE presently has a consensus rating of "Moderate Buy" and an average price target of $78.22.

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.