Flossbach Von Storch SE Has $653 Million Position in NIKE, Inc. (NYSE:NKE)

Flossbach Von Storch SE lifted its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 24.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,286,619 shares of the footwear maker's stock after acquiring an additional 1,988,547 shares during the period. NIKE makes up about 2.8% of Flossbach Von Storch SE's investment portfolio, making the stock its 17th largest holding. Flossbach Von Storch SE owned about 0.70% of NIKE worth $652,995,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Norges Bank bought a new position in NIKE in the fourth quarter valued at $1,126,288,000. Wellington Management Group LLP grew its position in NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after purchasing an additional 8,898,591 shares in the last quarter. Renaissance Technologies LLC grew its position in NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after purchasing an additional 2,416,601 shares in the last quarter. Capital World Investors grew its position in NIKE by 10.3% in the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after purchasing an additional 2,288,627 shares in the last quarter. Finally, Toronto Dominion Bank grew its position in NIKE by 183.9% in the fourth quarter. Toronto Dominion Bank now owns 2,996,972 shares of the footwear maker's stock valued at $226,779,000 after purchasing an additional 1,941,375 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

Analyst Ratings Changes

NKE has been the subject of a number of analyst reports. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. BMO Capital Markets decreased their target price on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Evercore ISI decreased their target price on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. Berenberg Bank initiated coverage on shares of NIKE in a research report on Tuesday, April 15th. They issued a "hold" rating and a $58.00 target price for the company. Finally, Wells Fargo & Company raised their target price on shares of NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.15.

NIKE Stock Performance

NIKE stock traded down $1.96 during midday trading on Friday, hitting $72.66. The company's stock had a trading volume of 12,749,362 shares, compared to its average volume of 15,230,401. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The company has a 50-day moving average price of $64.06 and a two-hundred day moving average price of $67.40. The company has a market cap of $107.47 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.70 and a beta of 1.25. 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 issued its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating 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 business 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 company posted $0.99 earnings per share. The firm's revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE's dividend payout ratio (DPR) is currently 74.07%.

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.