NIKE, Inc. (NYSE:NKE) Shares Bought by Grandfield & Dodd LLC

Grandfield & Dodd LLC boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 598.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,178 shares of the footwear maker’s stock after buying an additional 25,001 shares during the quarter. Grandfield & Dodd LLC’s holdings in NIKE were worth $2,742,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cim LLC purchased a new position in NIKE during the fourth quarter valued at $14,275,000. TKG Advisors LLC purchased a new position in NIKE during the fourth quarter valued at $1,012,000. Louisiana State Employees Retirement System purchased a new position in NIKE during the fourth quarter valued at $8,034,000. Brown Advisory Inc. lifted its holdings in NIKE by 4.3% during the fourth quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock valued at $506,908,000 after purchasing an additional 192,752 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in NIKE by 10,184.3% during the fourth quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock valued at $42,139,000 after purchasing an additional 384,357 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NKE shares. Oppenheimer reissued an “outperform” rating and issued a $120.00 price target on shares of NIKE in a research note on Friday, June 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $79.00 target price (down from $114.00) on shares of NIKE in a research note on Friday, June 28th. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. Finally, Citigroup dropped their price target on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $97.19.

Insider Activity at NIKE

In related news, VP Johanna Nielsen sold 282 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other NIKE news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the transaction, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,660 shares of company stock valued at $19,946,333. Insiders own 0.50% of the company’s stock.

NIKE Price Performance

Shares of NYSE:NKE traded up $0.84 on Thursday, reaching $73.38. 15,843,352 shares of the company were exchanged, compared to its average volume of 11,168,768. The firm has a market cap of $110.76 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 1.87 and a beta of 1.01. NIKE, Inc. has a 1-year low of $71.67 and a 1-year high of $123.39. The company has a 50-day moving average of $89.89 and a 200-day moving average of $96.31. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 EPS. Equities analysts forecast that NIKE, Inc. will post 3.17 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 2.02%. NIKE’s payout ratio is 39.68%.

About NIKE

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.