107,539 Shares in NIKE, Inc. (NYSE:NKE) Purchased by M&G Plc

M&G Plc purchased a new position in NIKE, Inc. (NYSE:NKE) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 107,539 shares of the footwear maker’s stock, valued at approximately $10,109,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of NKE. Annapolis Financial Services LLC grew its holdings in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares in the last quarter. Iron Horse Wealth Management LLC increased its stake in shares of NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares during the last quarter. Planned Solutions Inc. acquired a new position in shares of NIKE in the fourth quarter worth $29,000. True Wealth Design LLC increased its stake in shares of NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of NIKE in the fourth quarter worth $33,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In related news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Insiders sold a total of 213,660 shares of company stock valued at $19,946,333 in the last three months. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NKE has been the topic of several analyst reports. TD Cowen lowered their target price on shares of NIKE from $89.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. UBS Group reiterated a “neutral” rating and issued a $78.00 target price on shares of NIKE in a research note on Friday, June 28th. HSBC decreased their price objective on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Oppenheimer reissued an “outperform” rating and issued a $120.00 target price on shares of NIKE in a report on Friday, June 28th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $88.00 target price (down from $117.00) on shares of NIKE in a report on Friday, June 28th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, NIKE currently has an average rating of “Hold” and a consensus target price of $96.44.

NIKE Stock Up 0.4 %

Shares of NKE stock traded up $0.32 during mid-day trading on Friday, hitting $72.70. 11,913,319 shares of the stock traded hands, compared to its average volume of 23,921,236. The stock has a market cap of $109.73 billion, a P/E ratio of 19.49, a P/E/G ratio of 1.89 and a beta of 1.01. The stock’s fifty day moving average is $87.46 and its two-hundred day moving average is $94.75. NIKE, Inc. has a 52-week low of $71.24 and a 52-week high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $0.66 EPS. Equities analysts predict that NIKE, Inc. will post 3.12 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.04%. The ex-dividend date was Monday, June 3rd. NIKE’s dividend payout ratio is currently 39.68%.

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.