Pictet Asset Management Holding SA Buys 6,998 Shares of NIKE, Inc. (NYSE:NKE)

Pictet Asset Management Holding SA grew its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,676,133 shares of the footwear maker's stock after acquiring an additional 6,998 shares during the quarter. Pictet Asset Management Holding SA owned 0.11% of NIKE worth $126,833,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of NKE. JNBA Financial Advisors lifted its stake in NIKE by 1.3% in the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker's stock valued at $760,000 after buying an additional 131 shares during the period. Frisch Financial Group Inc. grew its position in shares of NIKE by 4.7% during the 3rd quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker's stock worth $269,000 after buying an additional 136 shares during the period. Nations Financial Group Inc. IA ADV increased its stake in shares of NIKE by 0.7% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker's stock valued at $1,547,000 after acquiring an additional 136 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of NIKE by 1.0% during the 4th quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker's stock valued at $1,136,000 after acquiring an additional 150 shares during the period. Finally, Game Plan Financial Advisors LLC lifted its position in shares of NIKE by 11.1% during the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker's stock valued at $114,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NKE shares. Cfra Research raised shares of NIKE to a "moderate buy" rating in a research note on Friday, March 21st. Telsey Advisory Group reaffirmed a "market perform" rating and set a $80.00 price target on shares of NIKE in a research note on Monday, March 17th. Stifel Nicolaus reduced their price objective on NIKE from $79.00 to $75.00 and set a "hold" rating for the company in a research note on Friday, December 20th. DA Davidson upgraded NIKE to a "strong-buy" rating in a report on Monday, December 23rd. Finally, Morgan Stanley cut their target price on NIKE from $72.00 to $70.00 and set an "equal weight" rating on the stock in a report on Friday, March 21st. Fifteen investment 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 MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $87.38.

NIKE Stock Performance

NKE stock traded up $0.34 during mid-day trading on Monday, hitting $63.63. The company had a trading volume of 10,441,821 shares, compared to its average volume of 14,824,155. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a market cap of $94.12 billion, a PE ratio of 19.64, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 12 month low of $62.65 and a 12 month high of $98.04. The stock's fifty day moving average price is $74.16 and its two-hundred day moving average price is $76.92.

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

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.51%. NIKE's payout ratio is 53.16%.

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 shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by insiders.

NIKE 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.