North Dakota State Investment Board Takes Position in NIKE, Inc. $NKE

Key Points

• North Dakota State Investment Board opened a new position in NIKE during the fourth quarter, buying 39,653 shares worth about $2.53 million.
• Insider buying picked up, with directors Timothy D. Cook and John W. Rogers, Jr. recently purchasing shares; insiders bought 64,441 shares worth $2.73 million over the last 90 days.
• NIKE reported quarterly earnings that beat estimates, posting $0.35 EPS on revenue of $11.28 billion, while analysts currently rate the stock a Hold with a consensus target price of $62.04.

North Dakota State Investment Board purchased a new stake in NIKE, Inc. (NYSE:NKE - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 39,653 shares of the footwear maker's stock, valued at approximately $2,526,000.

Other institutional investors have also made changes to their positions in the company. Guerra Advisors Inc bought a new stake in shares of NIKE in the 3rd quarter valued at approximately $34,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of NIKE in the 3rd quarter valued at approximately $35,000. Accredited Wealth Management LLC increased its holdings in shares of NIKE by 268.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker's stock valued at $36,000 after acquiring an additional 376 shares during the last quarter. Matrix Trust Co increased its holdings in shares of NIKE by 43.6% in the 4th quarter. Matrix Trust Co now owns 596 shares of the footwear maker's stock valued at $38,000 after acquiring an additional 181 shares during the last quarter. Finally, Ares Financial Consulting LLC bought a new stake in shares of NIKE in the 4th quarter valued at approximately $40,000. 64.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other NIKE news, Director Timothy D. Cook purchased 25,000 shares of the firm's stock in a transaction dated Friday, April 10th. The stock was bought at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the completion of the purchase, the director owned 130,480 shares in the company, valued at $5,536,266.40. This trade represents a 23.70% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Rogers, Jr. purchased 4,000 shares of the firm's stock in a transaction dated Thursday, April 9th. The stock was acquired at an average cost of $43.34 per share, with a total value of $173,360.00. Following the purchase, the director owned 41,022 shares of the company's stock, valued at approximately $1,777,893.48. This represents a 10.80% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NKE. Weiss Ratings downgraded NIKE from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft lowered their price target on NIKE from $54.00 to $51.00 and set a "hold" rating for the company in a report on Wednesday, April 1st. BTIG Research lowered their price objective on NIKE from $90.00 to $75.00 and set a "buy" rating for the company in a research note on Wednesday, April 1st. Stifel Nicolaus lowered their price objective on NIKE from $65.00 to $56.00 and set a "hold" rating for the company in a research note on Wednesday, April 1st. Finally, DA Davidson downgraded NIKE from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $72.00 to $46.00 in a research note on Thursday, April 2nd. Sixteen analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $62.04.

NIKE Price Performance

Shares of NKE opened at $42.54 on Tuesday. The company has a market cap of $62.99 billion, a P/E ratio of 28.17, a PEG ratio of 2.22 and a beta of 1.12. The stock has a fifty day moving average price of $47.59 and a 200 day moving average price of $57.86. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45. NIKE, Inc. has a 12 month low of $41.35 and a 12 month high of $80.17.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. The firm had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The firm's revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 EPS. On average, research analysts forecast that NIKE, Inc. will post 1.51 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.9%. NIKE's dividend payout ratio is presently 108.61%.

About NIKE

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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