Rhumbline Advisers Purchases 11,802 Shares of NIKE, Inc. $NKE

Rhumbline Advisers increased its position in shares of NIKE, Inc. (NYSE:NKE) by 0.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,195,955 shares of the footwear maker’s stock after acquiring an additional 11,802 shares during the period. Rhumbline Advisers’ holdings in NIKE were worth $153,124,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of NIKE in the second quarter worth $835,063,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in NIKE by 3,129.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,091,426 shares of the footwear maker’s stock worth $645,855,000 after buying an additional 8,809,950 shares in the last quarter. Harris Associates L P bought a new position in NIKE in the 2nd quarter worth about $621,525,000. Invesco Ltd. increased its stake in NIKE by 66.1% in the 2nd quarter. Invesco Ltd. now owns 12,157,198 shares of the footwear maker’s stock worth $863,647,000 after acquiring an additional 4,840,114 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of NIKE by 42.3% in the 3rd quarter. Jennison Associates LLC now owns 11,838,528 shares of the footwear maker’s stock valued at $825,501,000 after acquiring an additional 3,518,666 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other NIKE news, Director Robert Holmes Swan purchased 8,691 shares of the stock in a transaction on Monday, December 22nd. The stock was acquired at an average price of $57.54 per share, with a total value of $500,080.14. Following the transaction, the director directly owned 43,293 shares of the company’s stock, valued at approximately $2,491,079.22. This trade represents a 25.12% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Elliott Hill acquired 16,388 shares of the company’s stock in a transaction on Monday, December 29th. The stock was acquired at an average price of $61.10 per share, with a total value of $1,001,306.80. Following the acquisition, the chief executive officer owned 241,587 shares in the company, valued at approximately $14,760,965.70. This trade represents a 7.28% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 75,079 shares of company stock valued at $4,449,887 over the last three months. Company insiders own 0.80% of the company’s stock.

NIKE Stock Performance

NYSE:NKE opened at $62.37 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.40 and a current ratio of 2.06. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The firm has a market cap of $92.33 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 3.23 and a beta of 1.27. The business has a 50 day moving average price of $63.69 and a 200-day moving average price of $68.01.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The company had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.19 billion. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 EPS. Equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were issued a dividend of $0.41 per share. This is an increase from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Monday, December 1st. NIKE’s dividend payout ratio (DPR) is currently 96.47%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NKE. Wells Fargo & Company set a $65.00 price objective on shares of NIKE and gave the stock an “overweight” rating in a research report on Friday, December 19th. Citigroup restated a “neutral” rating and set a $65.00 price objective (down previously from $70.00) on shares of NIKE in a research report on Friday, December 19th. Oppenheimer reiterated an “outperform” rating on shares of NIKE in a research report on Wednesday, December 17th. Raymond James Financial restated a “market perform” rating on shares of NIKE in a research report on Monday, December 15th. Finally, Robert W. Baird dropped their price target on NIKE from $93.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.61.

NIKE Company 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).