SCS Capital Management LLC Makes New Investment in NIKE, Inc. $NKE

Key Points

• SCS Capital Management LLC has acquired a new stake in NIKE, Inc., purchasing 9,030 shares valued at approximately $575,000.
• NIKE's stock has shown significant movement, with a one-year low of $52.28 and a high of $90.62, currently trading at around $74.22.
• The company reported $0.14 earnings per share for the last quarter, exceeding analysts' expectations, but experienced a year-over-year revenue decline of 11.9%.

SCS Capital Management LLC bought a new stake in NIKE, Inc. (NYSE:NKE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 9,030 shares of the footwear maker's stock, valued at approximately $575,000.

Other hedge funds have also recently bought and sold shares of the company. Stone House Investment Management LLC bought a new position in NIKE in the 1st quarter valued at about $25,000. Heck Capital Advisors LLC bought a new position in NIKE in the 4th quarter valued at about $28,000. Saudi Central Bank bought a new position in NIKE in the 1st quarter valued at about $30,000. Roxbury Financial LLC increased its holdings in NIKE by 52.1% in the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after buying an additional 201 shares during the period. Finally, N.E.W. Advisory Services LLC bought a new position in NIKE in the 1st quarter valued at about $37,000. 64.25% of the stock is owned by institutional investors.

NIKE Trading Down 1.6%

Shares of NYSE NKE traded down $1.22 during midday trading on Friday, reaching $73.12. The stock had a trading volume of 11,798,080 shares, compared to its average volume of 9,788,119. The company's 50 day moving average price is $75.40 and its 200 day moving average price is $67.81. The firm has a market cap of $107.98 billion, a price-to-earnings ratio of 33.85, a price-to-earnings-growth ratio of 2.70 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. 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 released 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. The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. NIKE's revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 EPS. As a group, sell-side analysts expect 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 paid a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. NIKE's payout ratio is currently 74.07%.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the business's stock in a transaction on Thursday, August 14th. The shares were 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 owned 744,988 shares in the company, valued at approximately $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 can be accessed through the SEC website. 0.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Bank of America raised their price target on shares of NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Wall Street Zen upgraded shares of NIKE from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Argus upgraded shares of NIKE to a "buy" rating in a research note on Sunday, July 6th. Sanford C. Bernstein restated an "outperform" rating on shares of NIKE in a research note on Monday, August 18th. Finally, Citigroup raised their price target on shares of NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $78.67.

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.