NIKE, Inc. (NYSE:NKE) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its holdings in NIKE, Inc. by 15%, acquiring an additional 85,275 shares, bringing its total to 652,000 shares valued at over $41 million.
• Despite a revenue decline of 11.9% year-over-year, NIKE reported better-than-expected earnings per share of $0.14, surpassing the consensus estimate of $0.12 for the recent quarter.
• NIKE recently declared a quarterly dividend of $0.40, yielding 2.10%, with a payout ratio of 74.07% as of the last quarter.

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 15.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 652,000 shares of the footwear maker's stock after buying an additional 85,275 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in NIKE were worth $41,389,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NKE. Empirical Finance LLC raised its stake in shares of NIKE by 1.6% during the first quarter. Empirical Finance LLC now owns 42,710 shares of the footwear maker's stock valued at $2,711,000 after acquiring an additional 659 shares in the last quarter. Allen Investment Management LLC bought a new position in NIKE in the first quarter worth approximately $476,000. Allium Financial Advisors LLC bought a new position in NIKE in the first quarter worth approximately $511,000. Integrated Investment Consultants LLC purchased a new position in NIKE in the first quarter worth $292,000. Finally, HB Wealth Management LLC grew its holdings in NIKE by 23.2% in the first quarter. HB Wealth Management LLC now owns 51,865 shares of the footwear maker's stock worth $3,292,000 after purchasing an additional 9,782 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insider Buying and Selling

In related 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 transaction of $7,951,900.00. Following the sale, the chairman directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.80% of the stock is owned by corporate insiders.

NIKE Stock Down 2.0%

Shares of NIKE stock traded down $1.51 during trading on Thursday, hitting $75.18. 6,841,901 shares of the stock were exchanged, compared to its average volume of 17,461,643. The stock has a market cap of $111.03 billion, a price-to-earnings ratio of 34.85, a price-to-earnings-growth ratio of 2.88 and a beta of 1.25. The firm's 50-day moving average price is $67.80 and its 200 day moving average price is $67.49. NIKE, Inc. has a 12-month low of $52.28 and a 12-month 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.

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 (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $10.69 billion. During the same period in the previous year, the company earned $0.99 EPS. The company's revenue for the quarter was down 11.9% on a year-over-year basis. As a group, analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Telsey Advisory Group reissued a "market perform" rating and issued a $70.00 target price on shares of NIKE in a research report on Friday, June 27th. Needham & Company LLC upped their price target on shares of NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a report on Friday, June 27th. Evercore ISI lowered their price target on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a report on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a report on Friday, June 20th. Finally, Citigroup increased their target price on shares of NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average 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.