SG Americas Securities LLC Acquires 167,301 Shares of NIKE, Inc. $NKE

Key Points

• SG Americas Securities LLC increased its NIKE holdings by 14.5% in the first quarter, buying 167,301 additional shares and bringing its position to 1,320,388 shares worth about $69.7 million.
• Analyst sentiment on NIKE has softened, with several firms cutting ratings or price targets; the stock now has a consensus Hold rating and an average target price of $60.89.
• NIKE recently beat earnings expectations, reporting $0.35 EPS versus the $0.29 estimate, and it also declared a quarterly dividend of $0.41 per share, equal to a 3.8% annualized yield.

SG Americas Securities LLC grew its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 14.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,320,388 shares of the footwear maker's stock after purchasing an additional 167,301 shares during the period. SG Americas Securities LLC owned about 0.09% of NIKE worth $69,743,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Brighton Jones LLC grew its position in NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Caxton Associates LLP bought a new stake in NIKE during the 1st quarter worth about $311,000. United Bank lifted its position in NIKE by 11.3% during the 2nd quarter. United Bank now owns 17,067 shares of the footwear maker's stock worth $1,212,000 after buying an additional 1,736 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of NIKE by 0.3% during the 2nd quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker's stock worth $4,558,000 after buying an additional 197 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of NIKE by 6.5% in the 2nd quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker's stock valued at $13,588,000 after acquiring an additional 11,646 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on NKE shares. HSBC downgraded NIKE from a "buy" rating to a "hold" rating and lowered their target price for the company from $90.00 to $48.00 in a research report on Monday, April 13th. Telsey Advisory Group decreased their price target on NIKE from $65.00 to $55.00 and set a "market perform" rating for the company in a research note on Wednesday, April 1st. Royal Bank Of Canada downgraded NIKE from an "outperform" rating to a "sector perform" rating and decreased their price target for the company from $70.00 to $50.00 in a research note on Wednesday, June 10th. Barclays lowered their price target on NIKE from $73.00 to $67.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 1st. Finally, Guggenheim dropped their price objective on NIKE from $77.00 to $74.00 and set a "buy" rating on the stock in a research note on Wednesday, April 1st. Fifteen equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $60.89.

NIKE Price Performance

Shares of NYSE NKE opened at $43.22 on Tuesday. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. The business's 50 day moving average price is $44.38 and its two-hundred day moving average price is $54.56. The company has a market cap of $64.00 billion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. NIKE, Inc. has a twelve month low of $41.35 and a twelve month high of $80.17.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company had revenue of $11.28 billion during the quarter, compared to analysts' expectations of $11.23 billion. During the same period last year, the firm posted $0.54 earnings per share. The business's revenue was up .1% on a year-over-year basis. On average, analysts predict that NIKE, Inc. will post 1.49 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 3.8%. NIKE's dividend payout ratio (DPR) is currently 108.61%.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. acquired 4,000 shares of NIKE stock in a transaction on Thursday, April 9th. The stock was purchased at an average cost of $43.34 per share, with a total value of $173,360.00. Following the completion of the transaction, the director directly owned 41,022 shares in the company, valued at $1,777,893.48. This trade represents a 10.80% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Holmes Swan acquired 11,781 shares of the firm's stock in a transaction on Tuesday, April 7th. The stock was bought at an average price of $42.44 per share, for a total transaction of $499,985.64. Following the completion of the acquisition, the director owned 55,074 shares of the company's stock, valued at approximately $2,337,340.56. The trade was a 27.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is currently owned by corporate insiders.

About NIKE

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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