Capital Research Global Investors Increases Stock Holdings in NIKE, Inc. (NYSE:NKE)

Capital Research Global Investors raised its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 269.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,429,708 shares of the footwear maker's stock after buying an additional 1,772,342 shares during the period. Capital Research Global Investors owned 0.16% of NIKE worth $183,854,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Tidal Investments LLC increased its position in shares of NIKE by 65.4% during the 3rd quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker's stock worth $9,332,000 after purchasing an additional 41,752 shares during the last quarter. Denver PWM LLC grew its position in shares of NIKE by 9.7% in the 3rd quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker's stock valued at $228,000 after acquiring an additional 227 shares during the period. Confluence Investment Management LLC increased its stake in shares of NIKE by 6.3% during the 4th quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker's stock worth $18,621,000 after purchasing an additional 14,592 shares during the last quarter. Cacti Asset Management LLC acquired a new stake in NIKE in the 4th quarter valued at about $9,987,000. Finally, GAMMA Investing LLC grew its holdings in NIKE by 1.0% during the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker's stock worth $1,136,000 after purchasing an additional 150 shares during the period. 64.25% of the stock is owned by institutional investors.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan purchased 8,600 shares of the business's stock in a transaction on Friday, April 4th. The shares were acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. The trade was a 36.78 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company's stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NKE has been the subject of several research analyst reports. UBS Group reduced their target price on NIKE from $73.00 to $66.00 and set a "neutral" rating for the company in a research note on Friday, March 21st. China Renaissance initiated coverage on shares of NIKE in a research report on Wednesday, March 19th. They issued a "hold" rating on the stock. Robert W. Baird reduced their target price on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a report on Friday, March 21st. JPMorgan Chase & Co. lowered their price target on shares of NIKE from $73.00 to $64.00 and set a "neutral" rating on the stock in a report on Friday, March 21st. Finally, Royal Bank of Canada lowered their target price on NIKE from $67.00 to $66.00 and set a "sector perform" rating on the stock in a research note on Friday, March 21st. Sixteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, NIKE currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.19.

NIKE Trading Up 0.6 %

NYSE:NKE traded up $0.34 during trading hours on Wednesday, hitting $57.40. 21,549,771 shares of the company were exchanged, compared to its average volume of 18,318,201. The company has a fifty day simple moving average of $67.75 and a 200 day simple moving average of $73.44. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The stock has a market capitalization of $84.90 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion for the quarter, compared to analysts' expectations of $11.02 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The firm's revenue was down 9.1% on a year-over-year basis. Sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE's dividend payout ratio is presently 53.16%.

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.