Capital World Investors Grows Stock Position in NIKE, Inc. $NKE

Capital World Investors increased its position in shares of NIKE, Inc. (NYSE:NKE) by 0.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,239,013 shares of the footwear maker’s stock after purchasing an additional 286,615 shares during the quarter. Capital World Investors’ holdings in NIKE were worth $2,945,326,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Main Street Financial Solutions LLC grew its holdings in shares of NIKE by 4.2% during the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after buying an additional 139 shares in the last quarter. St. Clair Advisors LLC lifted its stake in shares of NIKE by 0.9% in the third quarter. St. Clair Advisors LLC now owns 15,217 shares of the footwear maker’s stock worth $1,061,000 after buying an additional 140 shares in the last quarter. Spirepoint Private Client LLC boosted its position in NIKE by 0.4% during the third quarter. Spirepoint Private Client LLC now owns 36,140 shares of the footwear maker’s stock worth $2,520,000 after acquiring an additional 153 shares during the last quarter. Evelyn Partners Investment Management Europe Ltd boosted its position in NIKE by 18.5% during the second quarter. Evelyn Partners Investment Management Europe Ltd now owns 997 shares of the footwear maker’s stock worth $71,000 after acquiring an additional 156 shares during the last quarter. Finally, CVA Family Office LLC grew its stake in NIKE by 8.0% during the 3rd quarter. CVA Family Office LLC now owns 2,113 shares of the footwear maker’s stock valued at $147,000 after acquiring an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on NKE. Argus cut their price objective on shares of NIKE from $85.00 to $70.00 in a report on Tuesday, December 23rd. Wells Fargo & Company set a $65.00 price target on NIKE and gave the company an “overweight” rating in a research report on Friday, December 19th. Barclays reiterated a “neutral” rating on shares of NIKE in a research report on Thursday, January 15th. Needham & Company LLC downgraded NIKE from a “buy” rating to a “hold” rating in a research note on Thursday, January 8th. Finally, Raymond James Financial restated a “market perform” rating on shares of NIKE in a research report on Monday, December 15th. Twenty-two analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.61.

Insider Activity

In other news, CEO Elliott Hill acquired 16,388 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The shares were purchased at an average price of $61.10 per share, for a total transaction of $1,001,306.80. Following the acquisition, the chief executive officer owned 241,587 shares of the company’s stock, valued at $14,760,965.70. This represents a 7.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Holmes Swan bought 8,691 shares of the stock in a transaction that occurred on Monday, December 22nd. The shares were purchased at an average price of $57.54 per share, with a total value of $500,080.14. Following the completion of the acquisition, the director directly owned 43,293 shares in the company, valued at $2,491,079.22. This trade represents a 25.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 75,079 shares of company stock valued at $4,449,887. 0.80% of the stock is currently owned by corporate insiders.

NIKE Stock Down 0.8%

Shares of NKE opened at $56.56 on Tuesday. The company’s 50-day moving average price is $63.17 and its 200 day moving average price is $66.19. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $80.19. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. The firm has a market cap of $83.73 billion, a P/E ratio of 33.27, a price-to-earnings-growth ratio of 2.92 and a beta of 1.27.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The business had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.19 billion. During the same period last year, the business earned $0.78 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.9%. NIKE’s payout ratio is presently 96.47%.

NIKE Profile

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).