Aberdeen Group plc Purchases 674,573 Shares of NIKE, Inc. $NKE

Key Points

• Aberdeen Group plc has significantly increased its stake in NIKE, Inc. by 62.1%, owning approximately 1.76 million shares valued at $111.5 million at the end of the 1st quarter.
• Insider trading activity was reported as Chairman Mark G. Parker sold 110,000 shares for about $7.95 million, reducing his ownership by 11.55%.
• NIKE announced a $0.40 quarterly dividend, which will yield approximately 2.1%, with the ex-dividend date set for September 2nd.

Aberdeen Group plc raised its position in NIKE, Inc. (NYSE:NKE - Free Report) by 62.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,761,172 shares of the footwear maker's stock after buying an additional 674,573 shares during the quarter. Aberdeen Group plc owned about 0.12% of NIKE worth $111,500,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Stone House Investment Management LLC bought a new stake in shares of NIKE during the 1st quarter valued at approximately $25,000. Heck Capital Advisors LLC bought a new stake in shares of NIKE during the 4th quarter valued at approximately $28,000. Roxbury Financial LLC grew its holdings in shares of 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 purchasing an additional 201 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of NIKE during the 1st quarter valued at approximately $37,000. Finally, Putney Financial Group LLC bought a new stake in shares of NIKE during the 4th quarter valued at approximately $40,000. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on 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 transaction, the chairman owned 842,361 shares of the company's stock, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NKE. DZ Bank downgraded shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price on the stock. in a research report on Thursday, July 10th. Robert W. Baird lifted their target price on shares of NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research report on Friday, June 27th. Needham & Company LLC lifted their target price on shares of NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a research report on Friday, June 20th. Finally, Citigroup lifted their target price on shares of NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $78.22.

NIKE Stock Down 0.8%

Shares of NIKE stock traded down $0.61 during trading on Tuesday, reaching $76.82. 6,858,929 shares of the company traded hands, compared to its average volume of 16,779,396. The firm has a market capitalization of $113.46 billion, a PE ratio of 35.56, a P/E/G ratio of 2.80 and a beta of 1.27. The company has a 50 day moving average price of $71.36 and a 200-day moving average price of $67.56. 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 1-year low of $52.28 and a 1-year high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results 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 net margin of 6.95% and a return on equity of 23.33%. The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the prior year, the business posted $0.99 EPS. The business's revenue was down 11.9% compared to the same quarter last year. As a group, equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal 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 given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend 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.