Saturna Capital Corp Acquires 144,900 Shares of NIKE, Inc. $NKE

Saturna Capital Corp lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 93.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 300,730 shares of the footwear maker’s stock after purchasing an additional 144,900 shares during the quarter. Saturna Capital Corp’s holdings in NIKE were worth $19,160,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. J.Safra Asset Management Corp bought a new position in NIKE during the 4th quarter worth $29,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of NIKE in the third quarter worth $35,000. Accredited Wealth Management LLC increased its position in shares of NIKE by 268.6% in the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock worth $36,000 after purchasing an additional 376 shares during the period. Strive Asset Management LLC acquired a new position in NIKE in the third quarter valued at about $40,000. Finally, Matrix Trust Co raised its stake in NIKE by 43.6% in the fourth quarter. Matrix Trust Co now owns 596 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 181 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Down 1.4%

NYSE:NKE opened at $44.01 on Thursday. NIKE, Inc. has a one year low of $41.35 and a one year high of $80.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45. The company has a market cap of $65.17 billion, a PE ratio of 29.15, a P/E/G ratio of 1.93 and a beta of 1.12. The firm’s 50 day simple moving average is $44.39 and its 200 day simple moving average is $55.64.

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

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio (DPR) is currently 108.61%.

Insider Buying and Selling

In related news, Director Timothy D. Cook purchased 25,000 shares of NIKE stock in a transaction on Friday, April 10th. The shares were purchased at an average price of $42.43 per share, for a total transaction of $1,060,750.00. Following the transaction, the director owned 130,480 shares of the company’s stock, valued at approximately $5,536,266.40. This represents a 23.70% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert Holmes Swan purchased 11,781 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The stock was bought at an average cost of $42.44 per share, with a total value of $499,985.64. Following the purchase, the director owned 55,074 shares of the company’s stock, valued at approximately $2,337,340.56. This trade represents a 27.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 64,441 shares of company stock valued at $2,734,204 over the last 90 days. 0.80% of the stock is owned by corporate insiders.

NIKE News Summary

Here are the key news stories impacting NIKE this week:

• Negative Sentiment: RBC Capital Markets downgraded NIKE to Sector Perform from Outperform and cut its price target to $50 from $70, signaling less confidence in near-term upside despite World Cup-related demand hopes. Nike Could Get a World Cup Boost. But Stay Behind the Touchline, Analysts Say.
• Negative Sentiment: Citigroup also lowered its price target on NIKE to $47 from $53 and kept a Neutral rating, reinforcing the view that the stock may have limited short-term catalysts. Citigroup adjusts Nike’s PT to $47 from $53; maintains neutral rating
• Negative Sentiment: RBC said NIKE’s turnaround is progressing more slowly than expected, leaving the company with limited near-term catalysts even with the World Cup approaching. Nike Near-Term Catalysts Limited as Turnaround Progress Is Slower Than Expected, RBC Says
• Neutral Sentiment: Commentary around a possible World Cup boost for NIKE’s brand and sales is still speculative, and analysts are not yet treating it as enough to offset broader concerns about the turnaround. Should You Buy Nike Stock Ahead of the World Cup?

Analyst Ratings Changes

NKE has been the topic of a number of analyst reports. Sanford C. Bernstein reiterated a “buy” rating on shares of NIKE in a research note on Monday, May 11th. Weiss Ratings cut shares of NIKE from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday. BTIG Research cut their price target on shares of NIKE from $90.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Bank of America reiterated a “neutral” rating and set a $55.00 price target (down from $73.00) on shares of NIKE in a research report on Wednesday, April 1st. Finally, Jefferies Financial Group decreased their price objective on shares of NIKE from $110.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Fifteen 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $60.89.

NIKE Company 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).