IFM Investors Pty Ltd Buys 35,439 Shares of NIKE, Inc. (NYSE:NKE)

IFM Investors Pty Ltd increased its stake in shares of NIKE, Inc. (NYSE:NKEGet Rating) by 21.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 201,242 shares of the footwear maker’s stock after acquiring an additional 35,439 shares during the period. IFM Investors Pty Ltd’s holdings in NIKE were worth $27,079,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. increased its position in NIKE by 0.3% during the fourth quarter. BlackRock Inc. now owns 89,964,963 shares of the footwear maker’s stock worth $14,994,459,000 after buying an additional 298,848 shares during the last quarter. State Street Corp increased its position in NIKE by 3.6% during the fourth quarter. State Street Corp now owns 56,598,375 shares of the footwear maker’s stock worth $9,433,251,000 after buying an additional 1,969,270 shares during the last quarter. Geode Capital Management LLC increased its position in NIKE by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 21,444,116 shares of the footwear maker’s stock worth $3,564,786,000 after buying an additional 601,940 shares during the last quarter. Jennison Associates LLC increased its position in NIKE by 14.6% during the fourth quarter. Jennison Associates LLC now owns 15,307,214 shares of the footwear maker’s stock worth $2,551,253,000 after buying an additional 1,944,401 shares during the last quarter. Finally, Norges Bank acquired a new position in NIKE during the fourth quarter worth approximately $1,894,686,000. Institutional investors own 65.35% of the company’s stock.

NIKE Stock Up 2.4 %

Shares of NKE opened at $114.92 on Monday. NIKE, Inc. has a 52 week low of $99.53 and a 52 week high of $179.10. The stock has a market capitalization of $180.86 billion, a price-to-earnings ratio of 30.56, a PEG ratio of 2.24 and a beta of 1.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.84 and a current ratio of 2.63. The stock has a fifty day moving average of $110.03 and a 200-day moving average of $124.32.

NIKE (NYSE:NKEGet Rating) last announced its quarterly earnings results on Monday, June 27th. The footwear maker reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. NIKE had a return on equity of 40.74% and a net margin of 12.94%. The company had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $12.10 billion. During the same period in the prior year, the company earned $0.93 EPS. NIKE’s revenue was down .8% compared to the same quarter last year. As a group, sell-side analysts anticipate that NIKE, Inc. will post 3.91 earnings per share for the current fiscal year.

NIKE announced that its Board of Directors has authorized a share buyback program on Monday, June 27th that allows the company to buyback $18.00 billion in shares. This buyback authorization allows the footwear maker to purchase up to 11% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Monday, June 6th were issued a $0.305 dividend. The ex-dividend date of this dividend was Friday, June 3rd. This represents a $1.22 dividend on an annualized basis and a yield of 1.06%. NIKE’s payout ratio is 32.45%.

Insider Activity at NIKE

In related news, EVP Monique S. Matheson sold 30,000 shares of the stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $107.19, for a total value of $3,215,700.00. Following the completion of the sale, the executive vice president now directly owns 60,330 shares in the company, valued at $6,466,772.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Monique S. Matheson sold 30,000 shares of the stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $107.19, for a total value of $3,215,700.00. Following the completion of the sale, the executive vice president now directly owns 60,330 shares in the company, valued at $6,466,772.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 19,500 shares of the stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $103.45, for a total value of $2,017,275.00. Following the completion of the sale, the executive vice president now owns 80,355 shares of the company’s stock, valued at $8,312,724.75. The disclosure for this sale can be found here. Insiders sold 72,735 shares of company stock worth $7,944,215 over the last three months. Company insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Cowen lowered their price target on NIKE from $139.00 to $133.00 and set an “outperform” rating on the stock in a research report on Thursday, June 23rd. Stifel Nicolaus decreased their target price on NIKE from $135.00 to $130.00 in a research report on Wednesday, July 20th. KGI Securities downgraded NIKE from an “outperform” rating to a “neutral” rating in a research report on Monday, May 23rd. Morgan Stanley decreased their target price on NIKE from $159.00 to $149.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 28th. Finally, KeyCorp began coverage on NIKE in a research report on Wednesday, July 20th. They issued a “sector weight” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $139.08.

NIKE Profile

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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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