Generali Powszechne Towarzystwo Emerytalne bought a new position in shares of NIKE, Inc. (NYSE:NKE – Free Report) in the first quarter, Holdings Channel reports. The institutional investor bought 251,850 shares of the footwear maker’s stock, valued at approximately $13,303,000. NIKE accounts for approximately 2.4% of Generali Powszechne Towarzystwo Emerytalne’s holdings, making the stock its 21st largest position.
Several other hedge funds have also recently modified their holdings of NKE. Cornerstone Financial Management LLC purchased a new stake in NIKE during the 4th quarter worth approximately $26,000. Sankala Group LLC purchased a new position in shares of NIKE in the fourth quarter valued at approximately $26,000. J.Safra Asset Management Corp acquired a new stake in shares of NIKE in the fourth quarter worth approximately $29,000. Kemnay Advisory Services Inc. purchased a new stake in shares of NIKE during the fourth quarter worth approximately $30,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in shares of NIKE during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 64.25% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have weighed in on NKE shares. Barclays decreased their price objective on NIKE from $73.00 to $67.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Robert W. Baird decreased their price target on shares of NIKE from $85.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Sanford C. Bernstein restated a “buy” rating on shares of NIKE in a research report on Wednesday. Wells Fargo & Company set a $45.00 price target on shares of NIKE and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Finally, DZ Bank reaffirmed a “buy” rating on shares of NIKE in a research note on Tuesday, April 21st. Thirteen research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $59.40.
NIKE Trading Down 2.5%
Shares of NIKE stock opened at $40.79 on Friday. The stock has a 50 day moving average of $44.29 and a 200 day moving average of $54.05. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. The firm has a market capitalization of $60.40 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 1.81 and a beta of 1.12. NIKE, Inc. has a fifty-two week low of $40.44 and a fifty-two week high of $80.17.
NIKE (NYSE:NKE – Get Free Report) last announced its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. The company had revenue of $11.28 billion during the quarter, compared to analyst estimates of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. NIKE’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 earnings per share. As a group, research analysts predict that NIKE, Inc. will post 1.49 earnings per share for the current year.
NIKE Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.41 per share. The ex-dividend date is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.0%. NIKE’s dividend payout ratio is 108.61%.
Insider Buying and Selling at NIKE
In other news, EVP Philip Mccartney sold 17,398 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the transaction, the executive vice president owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. This trade represents a 24.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John W. Rogers, Jr. acquired 4,000 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The stock was acquired at an average price of $43.34 per share, with a total value of $173,360.00. Following the acquisition, the director directly owned 41,022 shares of the company’s stock, valued at approximately $1,777,893.48. This represents a 10.80% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 64,441 shares of company stock valued at $2,734,204. Corporate insiders own 0.80% of the company’s stock.
Trending Headlines about NIKE
Here are the key news stories impacting NIKE this week:
- Neutral Sentiment: Wells Fargo gave Nike a Hold rating, reflecting a cautious stance ahead of earnings. Wells Fargo Gives a Hold Rating to Nike (NKE)
- Positive Sentiment: Sanford C. Bernstein reaffirmed a Buy rating, suggesting some analysts still see upside despite the turnaround challenges. Nike Inc. Receives a Buy Rating from Bernstein
- Neutral Sentiment: Upcoming fourth-quarter earnings and guidance are the main catalyst, with investors watching whether Nike’s “Win Now” strategy is starting to improve results. Nike Wants to Make a Comeback. Should You Buy the Stock Before June 30?
- Negative Sentiment: A reported plan to restrict Chinese distributors’ online sales was criticized as a strategic mistake, raising concern about Nike’s China strategy and future growth. NKE Stock Slips On China Business Strategy Misstep And Surprise CFO Change Before Earnings
- Negative Sentiment: Nike’s surprise CFO transition is adding uncertainty, with analysts warning that the turnaround may take several more quarters to show clear progress. Nike’s New CFO Won’t Speed Up Its Turnaround
NIKE Profile
Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.
The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).
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