NIKE, Inc. (NYSE:NKE) Shares Purchased by Klingenstein Fields & Co. LP

Klingenstein Fields & Co. LP boosted its holdings in NIKE, Inc. (NYSE:NKE) by 1.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 180,253 shares of the footwear maker’s stock after buying an additional 2,299 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in NIKE were worth $11,442,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NKE. Wellington Management Group LLP raised its position in shares of NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after acquiring an additional 8,898,591 shares in the last quarter. Geode Capital Management LLC increased its stake in NIKE by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock valued at $1,915,110,000 after purchasing an additional 347,178 shares during the last quarter. Capital World Investors raised its holdings in NIKE by 10.3% during the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock worth $1,857,389,000 after purchasing an additional 2,288,627 shares in the last quarter. Norges Bank acquired a new stake in NIKE during the fourth quarter worth approximately $1,126,288,000. Finally, Northern Trust Corp lifted its position in shares of NIKE by 8.8% during the 4th quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker’s stock worth $1,111,625,000 after buying an additional 1,183,641 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

NKE opened at $73.38 on Wednesday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The firm has a market cap of $108.54 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 2.57 and a beta of 1.25. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The company has a fifty day simple moving average of $61.26 and a 200 day simple moving average of $67.44.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period last year, the firm earned $0.99 earnings per share. The company’s revenue was down 11.9% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were paid a dividend of $0.40 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Argus upgraded shares of NIKE from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Tuesday. Wells Fargo & Company lifted their target price on NIKE from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 14th. Telsey Advisory Group reissued a “market perform” rating and issued a $70.00 target price on shares of NIKE in a research report on Friday, June 27th. Deutsche Bank Aktiengesellschaft cut their price target on NIKE from $77.00 to $71.00 and set a “buy” rating on the stock in a research report on Friday, June 20th. Finally, The Goldman Sachs Group boosted their price objective on NIKE from $72.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $77.19.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of the business’s stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director directly owned 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.

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.