Gilder Gagnon Howe & Co. LLC Has $21.49 Million Position in NIKE, Inc. (NYSE:NKE)

Gilder Gagnon Howe & Co. LLC grew its position in NIKE, Inc. (NYSE:NKEGet Rating) by 7.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 159,688 shares of the footwear maker’s stock after buying an additional 10,813 shares during the quarter. Gilder Gagnon Howe & Co. LLC’s holdings in NIKE were worth $21,488,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NKE. Guardian Capital Advisors LP increased its position in NIKE by 8.5% during the 1st quarter. Guardian Capital Advisors LP now owns 23,627 shares of the footwear maker’s stock worth $2,954,000 after purchasing an additional 1,850 shares in the last quarter. Gladstone Capital Management LLP increased its position in NIKE by 10.7% during the 1st quarter. Gladstone Capital Management LLP now owns 1,330,780 shares of the footwear maker’s stock worth $179,069,000 after purchasing an additional 128,204 shares in the last quarter. Harvest Volatility Management LLC increased its position in NIKE by 85.5% during the 1st quarter. Harvest Volatility Management LLC now owns 5,885 shares of the footwear maker’s stock worth $792,000 after purchasing an additional 2,712 shares in the last quarter. 11 Capital Partners LP increased its position in NIKE by 5.8% during the 1st quarter. 11 Capital Partners LP now owns 143,753 shares of the footwear maker’s stock worth $19,343,000 after purchasing an additional 7,837 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its position in NIKE by 26.8% during the 1st quarter. 1832 Asset Management L.P. now owns 2,919,507 shares of the footwear maker’s stock worth $387,472,000 after purchasing an additional 617,151 shares in the last quarter. 64.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John W. Rogers, Jr. bought 10,000 shares of the stock in a transaction dated Thursday, June 30th. The stock was bought at an average price of $102.96 per share, for a total transaction of $1,029,600.00. Following the completion of the acquisition, the director now directly owns 25,681 shares in the company, valued at approximately $2,644,115.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director John W. Rogers, Jr. bought 10,000 shares of the stock in a transaction dated Thursday, June 30th. The stock was bought at an average price of $102.96 per share, for a total transaction of $1,029,600.00. Following the completion of the acquisition, the director now directly owns 25,681 shares in the company, valued at approximately $2,644,115.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Monique S. Matheson sold 19,500 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $103.45, for a total transaction of $2,017,275.00. Following the sale, the executive vice president now owns 80,355 shares of the company’s stock, valued at approximately $8,312,724.75. The disclosure for this sale can be found here. Insiders sold a total of 59,561 shares of company stock worth $6,374,094 over the last quarter. Insiders own 0.40% of the company’s stock.

NIKE Stock Up 1.3 %

NIKE stock opened at $112.38 on Tuesday. NIKE, Inc. has a 1-year low of $99.53 and a 1-year high of $179.10. The firm has a market capitalization of $176.27 billion, a price-to-earnings ratio of 29.89, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. The firm’s fifty day moving average price is $109.73 and its two-hundred day moving average price is $117.38. The company has a current ratio of 2.63, a quick ratio of 1.84 and a debt-to-equity ratio of 0.58.

NIKE (NYSE:NKEGet Rating) last released its quarterly earnings data on Monday, June 27th. The footwear maker reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. NIKE had a net margin of 12.94% and a return on equity of 40.74%. The firm had revenue of $12.20 billion for the quarter, compared to analyst estimates of $12.10 billion. During the same period last year, the firm earned $0.93 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities research analysts predict that NIKE, Inc. will post 3.78 earnings per share for the current fiscal year.

NIKE announced that its board has initiated a share repurchase program on Monday, June 27th that authorizes the company to buyback $18.00 billion in shares. This buyback authorization authorizes the footwear maker to reacquire up to 11% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be issued a $0.305 dividend. The ex-dividend date is Friday, September 2nd. This represents a $1.22 annualized dividend and a dividend yield of 1.09%. NIKE’s dividend payout ratio is currently 32.45%.

Analysts Set New Price Targets

A number of research firms recently issued reports on NKE. Deutsche Bank Aktiengesellschaft set a $130.00 price objective on shares of NIKE in a research report on Tuesday, June 28th. JPMorgan Chase & Co. set a $130.00 price target on shares of NIKE in a research report on Wednesday, August 10th. Wells Fargo & Company decreased their price target on shares of NIKE from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, June 28th. Credit Suisse Group set a $130.00 price target on shares of NIKE in a research report on Wednesday, June 29th. Finally, KeyCorp assumed coverage on shares of NIKE in a research report on Wednesday, July 20th. They issued a “sector weight” rating for the company. Eleven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $136.42.

About NIKE

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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.

See Also

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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