Norway Savings Bank Boosts Position in NIKE, Inc. (NYSE:NKE)

Norway Savings Bank boosted its holdings in NIKE, Inc. (NYSE:NKE) by 1.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,382 shares of the footwear maker’s stock after purchasing an additional 139 shares during the quarter. Norway Savings Bank’s holdings in NIKE were worth $1,508,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Amundi purchased a new stake in shares of NIKE during the second quarter valued at approximately $615,556,000. Parnassus Investments CA purchased a new stake in shares of NIKE during the second quarter valued at approximately $553,035,000. Alliancebernstein L.P. raised its stake in shares of NIKE by 15.2% during the second quarter. Alliancebernstein L.P. now owns 23,084,530 shares of the footwear maker’s stock valued at $3,566,329,000 after purchasing an additional 3,045,282 shares during the period. Vontobel Asset Management Inc. raised its stake in shares of NIKE by 32.2% during the second quarter. Vontobel Asset Management Inc. now owns 3,316,232 shares of the footwear maker’s stock valued at $530,190,000 after purchasing an additional 806,859 shares during the period. Finally, AKO Capital LLP raised its stake in shares of NIKE by 33.4% during the second quarter. AKO Capital LLP now owns 3,193,614 shares of the footwear maker’s stock valued at $493,381,000 after purchasing an additional 798,909 shares during the period. Hedge funds and other institutional investors own 64.38% of the company’s stock.

Shares of NKE opened at $172.03 on Thursday. NIKE, Inc. has a 1 year low of $125.44 and a 1 year high of $179.10. The company has a market cap of $272.29 billion, a price-to-earnings ratio of 45.63, a price-to-earnings-growth ratio of 3.22 and a beta of 0.93. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.38 and a current ratio of 3.19. The firm has a fifty day moving average of $161.13 and a 200-day moving average of $155.92.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Wednesday, September 22nd. The footwear maker reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.04. NIKE had a net margin of 13.17% and a return on equity of 48.98%. The company had revenue of $12.25 billion during the quarter, compared to the consensus estimate of $12.47 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. Analysts predict that NIKE, Inc. will post 3.56 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 28th. Investors of record on Monday, December 6th will be paid a dividend of $0.305 per share. This is a boost from NIKE’s previous quarterly dividend of $0.28. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Friday, December 3rd. NIKE’s payout ratio is currently 29.18%.

A number of analysts have recently issued reports on the stock. Jefferies Financial Group set a $200.00 price objective on shares of NIKE and gave the company a “buy” rating in a research note on Friday, September 24th. Stifel Nicolaus restated a “buy” rating and issued a $213.00 price target on shares of NIKE in a research note on Friday, September 17th. UBS Group restated a “buy” rating and issued a $185.00 price target on shares of NIKE in a research note on Friday, September 24th. Pivotal Research restated a “buy” rating and issued a $175.00 price target on shares of NIKE in a research note on Tuesday, September 21st. Finally, Wedbush initiated coverage on shares of NIKE in a research note on Monday, October 4th. They issued an “outperform” rating and a $170.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $174.94.

In other NIKE news, Chairman Mark G. Parker sold 100,000 shares of the business’s stock in a transaction dated Wednesday, October 13th. The stock was sold at an average price of $154.99, for a total transaction of $15,499,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Hilary K. Krane sold 10,750 shares of the business’s stock in a transaction dated Friday, October 15th. The stock was sold at an average price of $157.80, for a total value of $1,696,350.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 247,589 shares of company stock worth $40,048,835. Company insiders own 3.70% of the company’s stock.

NIKE Profile

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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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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