Nuance Investments LLC Invests $6.87 Million in NIKE, Inc. (NYSE:NKE)

Nuance Investments LLC purchased a new position in NIKE, Inc. (NYSE:NKE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 90,759 shares of the footwear maker's stock, valued at approximately $6,868,000.

Several other large investors also recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new position in NIKE in the fourth quarter worth about $28,000. Caitlin John LLC boosted its holdings in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock worth $28,000 after buying an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new stake in NIKE during the third quarter valued at approximately $30,000. Roxbury Financial LLC purchased a new stake in NIKE during the fourth quarter valued at approximately $30,000. Finally, LFA Lugano Financial Advisors SA increased its holdings in NIKE by 110.5% during the fourth 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 during the last quarter. Institutional investors own 64.25% of the company's stock.

NIKE Price Performance

Shares of NIKE stock traded down $2.48 during trading hours on Friday, reaching $63.32. The company's stock had a trading volume of 19,564,094 shares, compared to its average volume of 12,930,854. The firm has a 50 day moving average price of $74.16 and a 200-day moving average price of $76.93. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The stock has a market cap of $93.65 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a one year low of $63.14 and a one year high of $98.04.

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

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.53%. NIKE's payout ratio is presently 53.16%.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NKE shares. Evercore ISI cut their price objective on shares of NIKE from $105.00 to $97.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Telsey Advisory Group reissued a "market perform" rating and set a $80.00 price target on shares of NIKE in a report on Monday, March 17th. Wells Fargo & Company decreased their price objective on NIKE from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Citigroup downgraded NIKE from a "buy" rating to a "neutral" rating and cut their price objective for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Finally, Dbs Bank upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Fifteen investment 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 company's stock. Based on data from MarketBeat.com, NIKE has an average rating of "Moderate Buy" and a consensus target price of $87.38.

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.