NIKE, Inc. $NKE Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its stake in NIKE, Inc. (NYSE:NKE) by 0.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 216,143 shares of the footwear maker’s stock after purchasing an additional 1,143 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in NIKE were worth $15,355,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its position in NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after acquiring an additional 20,688,013 shares during the period. Wellington Management Group LLP grew its position in NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after acquiring an additional 9,043,180 shares during the period. Jennison Associates LLC purchased a new position in NIKE in the first quarter worth approximately $509,051,000. Nuveen LLC purchased a new position in NIKE in the first quarter worth approximately $502,285,000. Finally, Vanguard Group Inc. grew its position in NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after acquiring an additional 4,957,494 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

NIKE Trading Down 3.4%

NYSE:NKE opened at $72.01 on Friday. The firm has a market cap of $106.34 billion, a PE ratio of 36.93, a price-to-earnings-growth ratio of 2.65 and a beta of 1.29. The stock has a fifty day moving average price of $74.62 and a 200 day moving average price of $67.27. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $84.76. The company has a current ratio of 2.19, a quick ratio of 1.50 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same period last year, the firm earned $0.70 earnings per share. NIKE’s quarterly revenue was up 1.0% on a year-over-year basis. Sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a $0.40 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. NIKE’s dividend payout ratio (DPR) is currently 82.05%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NKE. Sanford C. Bernstein reiterated a “buy” rating and issued a $90.00 price objective on shares of NIKE in a research report on Wednesday. Royal Bank Of Canada upgraded NIKE from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $76.00 to $90.00 in a research report on Thursday, September 18th. The Goldman Sachs Group set a $85.00 price target on NIKE and gave the stock a “buy” rating in a research report on Thursday, September 25th. Argus upgraded NIKE to a “buy” rating in a research report on Sunday, July 6th. Finally, Barclays set a $70.00 price target on NIKE and gave the stock a “positive” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.57.

NIKE Company 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.