IHT Wealth Management LLC lifted its stake in NIKE, Inc. (NYSE:NKE – Get Rating) by 82.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,874 shares of the footwear maker’s stock after acquiring an additional 4,454 shares during the period. IHT Wealth Management LLC’s holdings in NIKE were worth $821,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new position in NIKE during the 2nd quarter worth $212,851,000. Two Sigma Investments LP grew its stake in NIKE by 487.6% during the 3rd quarter. Two Sigma Investments LP now owns 2,151,470 shares of the footwear maker’s stock worth $178,830,000 after buying an additional 1,785,322 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in NIKE by 187.1% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,345,116 shares of the footwear maker’s stock worth $194,926,000 after buying an additional 1,528,375 shares during the last quarter. Coho Partners Ltd. purchased a new position in NIKE during the 3rd quarter worth $118,416,000. Finally, Lazard Asset Management LLC grew its stake in NIKE by 221.5% during the 1st quarter. Lazard Asset Management LLC now owns 2,046,445 shares of the footwear maker’s stock worth $275,368,000 after buying an additional 1,409,913 shares during the last quarter. 63.20% of the stock is owned by institutional investors.
NIKE Stock Performance
NYSE NKE opened at $120.39 on Friday. The stock has a market capitalization of $186.67 billion, a price-to-earnings ratio of 33.91, a PEG ratio of 3.81 and a beta of 1.10. NIKE, Inc. has a twelve month low of $82.22 and a twelve month high of $139.86. The company has a current ratio of 2.69, a quick ratio of 1.78 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average of $123.67 and a 200 day moving average of $109.91.
NIKE Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 6th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, March 3rd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.13%. NIKE’s payout ratio is currently 38.31%.
Analyst Ratings Changes
Several brokerages recently weighed in on NKE. Sanford C. Bernstein set a $122.00 target price on NIKE in a research note on Monday, January 2nd. StockNews.com started coverage on NIKE in a research note on Thursday. They set a “hold” rating on the stock. Raymond James boosted their price target on NIKE from $99.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, December 21st. Morgan Stanley boosted their price target on NIKE from $138.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, March 13th. Finally, OTR Global upgraded NIKE from a “mixed” rating to a “positive” rating in a research note on Friday, March 10th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $129.66.
Insider Buying and Selling at NIKE
In other NIKE news, EVP Monique S. Matheson sold 5,000 shares of the stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $124.00, for a total transaction of $620,000.00. Following the completion of the transaction, the executive vice president now owns 60,213 shares of the company’s stock, valued at $7,466,412. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Monique S. Matheson sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $124.00, for a total value of $620,000.00. Following the completion of the sale, the executive vice president now directly owns 60,213 shares in the company, valued at $7,466,412. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter B. Henry purchased 557 shares of the company’s stock in a transaction dated Tuesday, February 7th. The stock was bought at an average price of $125.45 per share, with a total value of $69,875.65. Following the completion of the transaction, the director now directly owns 4,062 shares of the company’s stock, valued at $509,577.90. The disclosure for this purchase can be found here. Insiders own 0.40% of the company’s stock.
NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America, Europe, Middle East & Africa, Greater China, Asia Pacific & Latin America, Global Brand Divisions, Converse, and Corporate.
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