Pecaut & CO. Raises Stock Holdings in NIKE, Inc. (NYSE:NKE)

Pecaut & CO. lifted its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 43.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,912 shares of the footwear maker's stock after acquiring an additional 17,150 shares during the period. NIKE makes up about 1.2% of Pecaut & CO.'s investment portfolio, making the stock its 21st largest holding. Pecaut & CO.'s holdings in NIKE were worth $3,613,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Spire Wealth Management increased its position in shares of NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock worth $627,000 after purchasing an additional 416 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of NIKE by 1,302.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after acquiring an additional 2,416,601 shares during the period. Capitolis Liquid Global Markets LLC increased its stake in shares of NIKE by 40.9% during the 4th quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock worth $23,458,000 after purchasing an additional 90,000 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of NIKE by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock valued at $460,160,000 after purchasing an additional 463,470 shares during the period. Finally, Evergreen Capital Management LLC lifted its stake in NIKE by 3.3% in the 4th quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker's stock valued at $18,042,000 after purchasing an additional 7,536 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NYSE NKE traded down $0.48 during trading on Friday, reaching $72.50. 8,792,733 shares of the stock traded hands, compared to its average volume of 15,097,393. The company has a 50-day moving average of $65.49 and a 200-day moving average of $67.27. The stock has a market capitalization of $107.24 billion, a P/E ratio of 33.56, a price-to-earnings-growth ratio of 2.70 and a beta of 1.25. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. 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 announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $10.69 billion. During the same period in the prior year, the company earned $0.99 EPS. The company's quarterly revenue was down 11.9% compared to the same quarter last year. Analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. NIKE's payout ratio is 74.07%.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the sale, the chairman directly owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

NKE has been the topic of several research reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a research note on Friday, June 20th. Argus raised shares of NIKE to a "buy" rating in a report on Sunday, July 6th. JPMorgan Chase & Co. lifted their price objective on shares of NIKE from $56.00 to $64.00 and gave the company a "neutral" rating in a research note on Friday, June 27th. Jefferies Financial Group restated a "buy" rating on shares of NIKE in a research note on Friday, May 23rd. Finally, Citigroup raised their target price on NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $77.15.

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.