Nuance Investments LLC Increases Stock Holdings in NIKE, Inc. (NYSE:NKE)

Key Points

• Nuance Investments LLC increased its holdings in NIKE, Inc. by 45.9% in Q1, acquiring an additional 41,679 shares, bringing its total to 132,438 shares valued at $8,407,000.
• Major institutional investors have increased their stakes in NIKE, with Goldman Sachs raising its position by 344.2% to own 26.7 million shares worth approximately $1.69 billion.
• NIKE recently announced a quarterly dividend of $0.40 per share, representing a dividend yield of 2.2% based on its current payout ratio of 74.07%.

Nuance Investments LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 45.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,438 shares of the footwear maker's stock after buying an additional 41,679 shares during the period. Nuance Investments LLC's holdings in NIKE were worth $8,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its position in shares of NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after buying an additional 20,688,013 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of NIKE in the first quarter valued at about $509,051,000. Nuveen LLC acquired a new stake in shares of NIKE in the first quarter valued at about $502,285,000. Vanguard Group Inc. raised its position in shares of NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock valued at $7,182,831,000 after buying an additional 4,957,494 shares during the last quarter. Finally, Capital World Investors raised its position in shares of 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 buying an additional 2,288,627 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup lifted their price target on NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, June 27th. Argus upgraded NIKE to a "buy" rating in a report on Sunday, July 6th. Royal Bank Of Canada reduced their price target on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a report on Tuesday, May 20th. Morgan Stanley lifted their price target on NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. Finally, Williams Trading reduced their price target on NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $78.22.

NIKE Stock Performance

NYSE NKE opened at $74.07 on Tuesday. The company has a market cap of $109.39 billion, a P/E ratio of 34.29, a P/E/G ratio of 2.70 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The stock has a 50-day moving average of $69.95 and a two-hundred day moving average of $67.55. 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 released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share 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 company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the previous year, the company posted $0.99 EPS. NIKE's revenue was down 11.9% compared to the same quarter last year. As a group, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders 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 dividend yield of 2.2%. NIKE's payout ratio is currently 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.

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