Swiss National Bank Purchases 234,600 Shares of NIKE, Inc. $NKE

Swiss National Bank raised its position in shares of NIKE, Inc. (NYSE:NKE) by 7.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,566,300 shares of the footwear maker’s stock after buying an additional 234,600 shares during the quarter. Swiss National Bank owned about 0.24% of NIKE worth $253,350,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Personal CFO Solutions LLC grew its holdings in shares of NIKE by 6.7% in the second quarter. Personal CFO Solutions LLC now owns 17,868 shares of the footwear maker’s stock valued at $1,269,000 after purchasing an additional 1,124 shares in the last quarter. ABN AMRO Bank N.V. bought a new position in NIKE during the second quarter valued at $256,000. Prudential PLC grew its stake in shares of NIKE by 21.4% in the 2nd quarter. Prudential PLC now owns 24,304 shares of the footwear maker’s stock worth $1,727,000 after buying an additional 4,284 shares in the last quarter. Miller Financial Services LLC bought a new stake in shares of NIKE in the 2nd quarter worth about $385,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its position in shares of NIKE by 43.0% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 585,000 shares of the footwear maker’s stock valued at $41,792,000 after buying an additional 176,000 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Up 2.1%

Shares of NKE opened at $62.72 on Friday. The firm has a market capitalization of $92.71 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 2.41 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44. The company has a 50-day moving average of $67.36 and a 200 day moving average of $68.83.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same period last year, the company posted $0.70 earnings per share. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, December 1st. This is an increase from NIKE’s previous quarterly dividend of $0.40. NIKE’s dividend payout ratio (DPR) is 82.05%.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 price target on shares of NIKE in a report on Monday, September 29th. JPMorgan Chase & Co. decreased their price objective on NIKE from $100.00 to $86.00 and set a “buy” rating on the stock in a research report on Monday, November 17th. Stifel Nicolaus set a $68.00 target price on NIKE and gave the stock a “hold” rating in a report on Wednesday, October 1st. Royal Bank Of Canada reissued an “outperform” rating on shares of NIKE in a research report on Friday, October 10th. Finally, TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and increased their price target for the company from $62.00 to $85.00 in a report on Wednesday, September 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.24.

Insider Buying and Selling at NIKE

In other news, Director Jorgen Vig Knudstorp bought 16,150 shares of the stock in a transaction on Friday, November 7th. The stock was acquired at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the acquisition, the director owned 21,388 shares of the company’s stock, valued at $1,327,980.92. This represents a 308.32% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. The trade was a 12.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is currently owned by corporate insiders.

About NIKE

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.