Ceeto Capital Group LLC acquired a new stake in NIKE, Inc. (NYSE:NKE – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,348 shares of the footwear maker’s stock, valued at approximately $222,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Cim LLC purchased a new position in shares of NIKE during the fourth quarter valued at approximately $14,275,000. TKG Advisors LLC bought a new stake in shares of NIKE in the fourth quarter valued at $1,012,000. Louisiana State Employees Retirement System bought a new stake in shares of NIKE in the fourth quarter valued at $8,034,000. Brown Advisory Inc. raised its stake in shares of NIKE by 4.3% in the fourth quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock valued at $506,908,000 after buying an additional 192,752 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of NIKE by 10,184.3% in 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 buying an additional 384,357 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.
Insider Activity at NIKE
In related news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares in the company, valued at approximately $4,236,917.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares in the company, valued at approximately $4,236,917.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Insiders sold 323,660 shares of company stock worth $27,973,033 in the last ninety days. 0.50% of the stock is owned by company insiders.
NIKE Price Performance
NIKE (NYSE:NKE – Get Free Report) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 EPS. On average, equities analysts predict that NIKE, Inc. will post 3.12 EPS for the current fiscal year.
NIKE Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio is presently 39.68%.
Analyst Ratings Changes
NKE has been the topic of several research reports. Barclays lowered NIKE from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $109.00 to $80.00 in a research note on Friday, June 28th. BMO Capital Markets lowered their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Bank of America decreased their price objective on NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $83.00 price objective (down from $116.00) on shares of NIKE in a research note on Friday, June 28th. Finally, Raymond James reiterated a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, NIKE presently has a consensus rating of “Hold” and an average target price of $96.30.
Check Out Our Latest Research Report on NKE
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.
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