Geode Capital Management LLC boosted its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,376,558 shares of the footwear maker's stock after purchasing an additional 347,178 shares during the quarter. Geode Capital Management LLC owned 1.72% of NIKE worth $1,915,110,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. Caitlin John LLC increased its position in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock valued at $28,000 after purchasing an additional 200 shares during the period. Heck Capital Advisors LLC acquired a new stake in NIKE during the fourth quarter worth $28,000. Roxbury Financial LLC bought a new stake in NIKE in the 4th quarter valued at $30,000. LFA Lugano Financial Advisors SA raised its stake in shares of NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after buying an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. bought a new position in shares of NIKE during the 4th quarter worth about $30,000. 64.25% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. Jefferies Financial Group raised NIKE from a "hold" rating to a "buy" rating and lifted their price objective for the company from $75.00 to $115.00 in a report on Monday, February 24th. China Renaissance began coverage on NIKE in a research note on Wednesday, March 19th. They issued a "hold" rating on the stock. UBS Group dropped their price objective on NIKE from $73.00 to $66.00 and set a "neutral" rating for the company in a research note on Friday, March 21st. Wells Fargo & Company cut their price objective on NIKE from $90.00 to $85.00 and set an "overweight" rating for the company in a report on Friday, March 21st. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $92.00 to $82.00 and set a "buy" rating on the stock in a report on Monday, December 16th. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $87.38.
View Our Latest Report on NIKE
Insider Buying and Selling
In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.
NIKE Trading Up 0.4 %
NYSE NKE traded up $0.28 on Wednesday, reaching $65.04. The company had a trading volume of 10,774,673 shares, compared to its average volume of 12,961,350. NIKE, Inc. has a 52 week low of $60.09 and a 52 week high of $98.04. The stock's 50 day moving average is $73.66 and its 200-day moving average is $76.64. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock has a market cap of $96.20 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 2.52 and a beta of 1.02.
NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. The business had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE's revenue for the quarter was down 9.1% on a year-over-year basis. During the same period last year, the company posted $0.98 EPS. Equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.
NIKE Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Monday, March 3rd. NIKE's dividend payout ratio is currently 53.16%.
About NIKE
(
Free Report)
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.
See Also
Before you consider NIKE, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NIKE wasn't on the list.
While NIKE currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
