Eurizon Capital SGR S.p.A. Purchases New Shares in NIKE, Inc. $NKE

Eurizon Capital SGR S.p.A. purchased a new stake in NIKE, Inc. (NYSE:NKE) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,191,357 shares of the footwear maker’s stock, valued at approximately $138,061,000.

Several other institutional investors have also added to or reduced their stakes in the company. Main Street Financial Solutions LLC boosted its stake in NIKE by 4.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after purchasing an additional 139 shares during the period. Diligent Investors LLC boosted its stake in NIKE by 4.3% in the 4th quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock valued at $237,000 after purchasing an additional 153 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in NIKE by 4.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock valued at $253,000 after purchasing an additional 163 shares during the period. Lakeshore Capital Group Inc. boosted its stake in NIKE by 2.9% in the 4th quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker’s stock valued at $374,000 after purchasing an additional 165 shares during the period. Finally, TPG Financial Advisors LLC boosted its stake in NIKE by 4.8% in the 3rd quarter. TPG Financial Advisors LLC now owns 3,666 shares of the footwear maker’s stock valued at $256,000 after purchasing an additional 168 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Bank of America reiterated a “neutral” rating and set a $55.00 target price (down from $73.00) on shares of NIKE in a research report on Wednesday, April 1st. Berenberg Bank reiterated a “neutral” rating on shares of NIKE in a research report on Wednesday, May 6th. DA Davidson downgraded NIKE from a “buy” rating to a “neutral” rating and cut their target price for the company from $72.00 to $46.00 in a research report on Thursday, April 2nd. BTIG Research cut their target price on NIKE from $90.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Finally, Stifel Nicolaus cut their target price on NIKE from $65.00 to $56.00 and set a “hold” rating for the company in a research report on Wednesday, April 1st. Sixteen research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, NIKE presently has a consensus rating of “Hold” and an average target price of $62.04.

NIKE Price Performance

Shares of NKE opened at $46.21 on Friday. NIKE, Inc. has a 12-month low of $41.35 and a 12-month high of $80.17. The business has a 50-day simple moving average of $45.75 and a two-hundred day simple moving average of $56.76. 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 stock has a market cap of $68.42 billion, a PE ratio of 30.60, a PEG ratio of 2.51 and a beta of 1.12.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, topping 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 business had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter in the prior year, the firm earned $0.54 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Analysts anticipate that NIKE, Inc. will post 1.51 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio is presently 108.61%.

Insider Transactions at NIKE

In related news, Director Timothy D. Cook purchased 25,000 shares of the firm’s stock in a transaction dated Friday, April 10th. The stock was bought at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the completion of the purchase, the director owned 130,480 shares in the company, valued at approximately $5,536,266.40. This represents a 23.70% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John W. Rogers, Jr. purchased 4,000 shares of the firm’s stock in a transaction dated Thursday, April 9th. The stock was bought at an average cost of $43.34 per share, with a total value of $173,360.00. Following the purchase, the director owned 41,022 shares of the company’s stock, valued at approximately $1,777,893.48. This trade represents a 10.80% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 64,441 shares of company stock worth $2,734,204 in the last 90 days. 0.80% of the stock is currently owned by company insiders.

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).