Tocqueville Asset Management L.P. Grows Holdings in NIKE, Inc. $NKE

Key Points

• Tocqueville Asset Management L.P. increased its stake in NIKE, Inc. by 4.2%, owning a total of 272,552 shares valued at approximately $17.3 million.
• NIKE reported an earnings per share (EPS) of $0.14 for the last quarter, exceeding estimates, but with a revenue decline of 11.9% compared to the same quarter last year.
• The company announced a quarterly dividend of $0.40 per share, reflecting a 2.1% yield, with payment scheduled for October 1st.

Tocqueville Asset Management L.P. raised its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 4.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 272,552 shares of the footwear maker's stock after buying an additional 10,976 shares during the period. Tocqueville Asset Management L.P.'s holdings in NIKE were worth $17,302,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in NIKE by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock worth $7,182,831,000 after buying an additional 4,957,494 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after purchasing an additional 20,688,013 shares during the last quarter. Capital World Investors boosted its holdings in shares of NIKE by 10.3% during 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 raised its position in shares of NIKE by 3.0% during 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 buying an additional 620,214 shares during the period. Finally, Northern Trust Corp raised its position in shares of NIKE by 8.8% during the 4th quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock valued at $1,111,625,000 after buying an additional 1,183,641 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This trade represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.80% of the stock is currently owned by company insiders.

NIKE Price Performance

NIKE stock traded up $0.46 during mid-day trading on Monday, reaching $77.43. The company had a trading volume of 9,066,871 shares, compared to its average volume of 10,973,551. NIKE, Inc. has a 1 year low of $52.28 and a 1 year 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. The company has a market capitalization of $114.36 billion, a P/E ratio of 35.85, a P/E/G ratio of 2.80 and a beta of 1.27. The stock's 50-day simple moving average is $71.36 and its 200-day simple moving average is $67.56.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. 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 business earned $0.99 earnings per share. The company's quarterly revenue was down 11.9% on a year-over-year basis. On average, equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is 74.07%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NKE shares. Argus raised NIKE to a "buy" rating in a research report on Sunday, July 6th. Bank of America upped their price objective on NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Williams Trading lowered their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Citigroup upped their price objective 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. Finally, Robert W. Baird upped their price objective on shares of NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a research note on Friday, June 27th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.22.

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.