Zurcher Kantonalbank Zurich Cantonalbank Grows Position in NIKE, Inc. (NYSE:NKE)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of NIKE, Inc. (NYSE:NKE) by 3.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 566,725 shares of the footwear maker’s stock after buying an additional 18,407 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in NIKE were worth $42,884,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Range Financial Group LLC purchased a new position in NIKE during the 4th quarter valued at approximately $642,000. Cacti Asset Management LLC purchased a new position in shares of NIKE in the 4th quarter worth approximately $9,987,000. Capricorn Fund Managers Ltd purchased a new position in shares of NIKE in the 4th quarter worth approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of NIKE by 31.1% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC boosted its holdings in shares of NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NKE shares. Guggenheim reiterated a “buy” rating and issued a $110.00 target price on shares of NIKE in a report on Wednesday, February 12th. Citigroup cut NIKE from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $102.00 to $72.00 in a report on Friday, February 7th. BMO Capital Markets lifted their target price on NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. DA Davidson upgraded NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Finally, Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.77.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction dated Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

NIKE Stock Down 2.9 %

NIKE stock opened at $76.35 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The business’s 50-day simple moving average is $74.80 and its two-hundred day simple moving average is $78.09. The company has a market cap of $112.92 billion, a PE ratio of 23.56, a PEG ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $102.49.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the previous year, the business earned $1.03 EPS. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. Equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. NIKE’s payout ratio is 49.38%.

NIKE Profile

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.