Sather Financial Group Inc Acquires 132,276 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• Sather Financial Group Inc increased its stake in NIKE, Inc. by 28.2%, acquiring an additional 132,276 shares, which now represents 2.5% of its portfolio.
• Several large institutional investors, including Norges Bank and Wellington Management Group, have made significant adjustments to their positions in NIKE, indicating a strong interest in the company's stock.
• NIKE reported earnings of $0.14 per share for the last quarter, exceeding analysts' expectations, although revenue declined by 11.9% year-over-year.

Sather Financial Group Inc lifted its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 28.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 601,735 shares of the footwear maker's stock after buying an additional 132,276 shares during the quarter. NIKE makes up 2.5% of Sather Financial Group Inc's investment portfolio, making the stock its 19th largest position. Sather Financial Group Inc's holdings in NIKE were worth $38,198,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NKE. Wellington Management Group LLP lifted its position in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after acquiring an additional 8,898,591 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of NIKE by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock worth $1,915,110,000 after buying an additional 347,178 shares during the last quarter. Capital World Investors lifted its holdings in shares of NIKE by 10.3% in the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after purchasing an additional 2,288,627 shares during the last quarter. Bank of New York Mellon Corp lifted its position in NIKE by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after purchasing an additional 620,214 shares during the last quarter. Finally, Norges Bank acquired a new stake in NIKE in the 4th quarter valued at approximately $1,126,288,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Argus raised shares of NIKE to a "buy" rating in a research note on Sunday, July 6th. The Goldman Sachs Group lifted their price target on NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a report on Friday, June 27th. Deutsche Bank Aktiengesellschaft lowered their price objective on NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a report on Friday, June 20th. Citigroup lifted their price objective on NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, June 27th. Finally, HSBC raised NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $78.22.

NIKE Stock Performance

Shares of NYSE:NKE traded up $3.00 on Monday, reaching $79.27. 22,612,590 shares of the company's stock were exchanged, compared to its average volume of 17,592,443. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $117.07 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 2.80 and a beta of 1.25. The company has a fifty day moving average of $66.81 and a 200-day moving average of $67.29. 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 posted its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. NIKE's revenue for the quarter was down 11.9% compared to the same quarter last year. On average, research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders 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 2.02%. NIKE's payout ratio is 74.07%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.80% of the company's stock.

About NIKE

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.