Qsemble Capital Management LP Purchases Shares of 56,548 NIKE, Inc. (NYSE:NKE)

Qsemble Capital Management LP purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 56,548 shares of the footwear maker’s stock, valued at approximately $4,262,000. NIKE accounts for approximately 0.8% of Qsemble Capital Management LP’s holdings, making the stock its 16th largest holding.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after buying an additional 501,792 shares during the period. Capital International Investors boosted its position in NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after buying an additional 7,143,775 shares during the period. Price T Rowe Associates Inc. MD boosted its position in NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after buying an additional 7,996,434 shares during the period. Norges Bank purchased a new stake in NIKE during the 4th quarter valued at $1,315,097,000. Finally, Fisher Asset Management LLC lifted its position in shares of NIKE by 2.2% in the 4th quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock worth $1,072,676,000 after purchasing an additional 211,360 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $78.40 on Thursday. The company has a 50 day moving average price of $77.09 and a 200-day moving average price of $88.12. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The firm has a market capitalization of $118.33 billion, a PE ratio of 21.02, a P/E/G ratio of 2.11 and a beta of 1.02. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 earnings per share. As a group, equities research analysts expect that NIKE, Inc. will post 3.1 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Holmes Swan purchased 2,941 shares of the stock in a transaction on Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. StockNews.com cut shares of NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. TD Cowen dropped their target price on shares of NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Robert W. Baird dropped their target price on shares of NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Stifel Nicolaus dropped their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Finally, Royal Bank of Canada dropped their target price on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 2nd. Fourteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $95.59.

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.