6,964 Shares in NIKE, Inc. $NKE Bought by Quarry LP

Key Points

• Quarry LP acquired a new stake in NIKE, buying 6,964 shares valued at approximately $442,000, as indicated in their recent SEC filing.
• NIKE reported quarterly earnings of $0.14 EPS, beating estimates, with a revenue of $11.10 billion, though it marked an 11.9% decrease year-over-year.
• The company announced a quarterly dividend of $0.40, representing a 2.1% dividend yield, with shares scheduled to be paid on October 1st for stockholders of record by September 2nd.

Quarry LP bought a new stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,964 shares of the footwear maker's stock, valued at approximately $442,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its stake in shares of NIKE by 344.2% in the 1st 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 in the last quarter. Wellington Management Group LLP grew its stake in shares of NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after buying an additional 9,043,180 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of NIKE in the 1st quarter valued at approximately $509,051,000. Nuveen LLC bought a new stake in shares of NIKE in the 1st quarter valued at approximately $502,285,000. Finally, Vanguard Group Inc. grew its stake in shares of NIKE by 4.6% in the 1st 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 in the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on NKE. Citigroup boosted their price target on NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, June 27th. Bank of America boosted their target price on NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Zacks Research upgraded NIKE from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Finally, UBS Group began coverage on NIKE in a report on Sunday, July 6th. They issued a "buy" rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and thirteen have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $78.22.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value 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 $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.80% of the stock is currently owned by company insiders.

NIKE Stock Performance

Shares of NKE traded up $0.40 during mid-day trading on Wednesday, hitting $74.69. The company's stock had a trading volume of 7,465,443 shares, compared to its average volume of 8,412,580. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The firm has a market capitalization of $110.32 billion, a PE ratio of 34.58, a price-to-earnings-growth ratio of 2.81 and a beta of 1.24. The stock's 50-day moving average is $75.19 and its two-hundred day moving average is $67.98.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $10.69 billion. During the same period in the prior year, the business earned $0.99 earnings per share. NIKE's revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is 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.