Northwestern Mutual Wealth Management Co. Grows Position in NIKE, Inc. $NKE

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in NIKE, Inc. by 7.6% in the 1st quarter, owning 172,804 shares valued at approximately $10.97 million.
• NIKE recently reported earnings of $0.14 per share, exceeding analysts' expectations, despite a year-over-year revenue decline of 11.9% to $11.10 billion.
• The company announced a quarterly dividend of $0.40 per share, representing a 2.0% yield and a payout ratio of 74.07%.

Northwestern Mutual Wealth Management Co. raised its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 7.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,804 shares of the footwear maker's stock after buying an additional 12,138 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in NIKE were worth $10,970,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NKE. Stone House Investment Management LLC purchased a new position in NIKE during the 1st quarter valued at approximately $25,000. Heck Capital Advisors LLC purchased a new position in NIKE during the 4th quarter valued at approximately $28,000. Roxbury Financial LLC boosted its holdings in shares of 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 period. N.E.W. Advisory Services LLC purchased a new position in shares of NIKE in the 1st quarter worth approximately $37,000. Finally, Putney Financial Group LLC purchased a new position in shares of NIKE in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Trading Up 1.0%

Shares of NYSE NKE opened at $79.14 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $72.85 and a two-hundred day simple moving average of $67.69. The firm has a market cap of $116.88 billion, a PE ratio of 36.64, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.NIKE's revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 EPS. Analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.0%. NIKE's payout ratio is 74.07%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their target price on NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a report on Friday, June 20th. Citigroup lifted their target price on NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, June 27th. Morgan Stanley lifted their target price on NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. DZ Bank cut NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price for the company. in a report on Thursday, July 10th. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $78.22.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares of the company's stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.80% of the stock is currently owned by company insiders.

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.

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