Redpoint Investment Management Pty Ltd Grows Holdings in NIKE, Inc. (NYSE:NKE)

Redpoint Investment Management Pty Ltd raised its holdings in shares of NIKE, Inc. (NYSE:NKEGet Rating) by 1.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,530 shares of the footwear maker’s stock after purchasing an additional 386 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in NIKE were worth $4,243,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NKE. BlackRock Inc. grew its position in NIKE by 0.3% during the 4th quarter. BlackRock Inc. now owns 89,964,963 shares of the footwear maker’s stock valued at $14,994,459,000 after purchasing an additional 298,848 shares during the last quarter. State Street Corp lifted its stake in shares of NIKE by 3.6% in the fourth quarter. State Street Corp now owns 56,598,375 shares of the footwear maker’s stock worth $9,433,251,000 after buying an additional 1,969,270 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of NIKE by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 21,444,116 shares of the footwear maker’s stock valued at $3,564,786,000 after buying an additional 601,940 shares during the last quarter. Jennison Associates LLC increased its position in shares of NIKE by 14.6% during the fourth quarter. Jennison Associates LLC now owns 15,307,214 shares of the footwear maker’s stock valued at $2,551,253,000 after acquiring an additional 1,944,401 shares in the last quarter. Finally, Norges Bank purchased a new position in NIKE in the 4th quarter worth approximately $1,894,686,000. 65.35% of the stock is owned by institutional investors and hedge funds.

NYSE:NKE traded up $0.05 during midday trading on Thursday, hitting $104.97. The stock had a trading volume of 43,525 shares, compared to its average volume of 5,631,163. The stock has a 50-day moving average of $117.72 and a 200 day moving average of $135.48. The company has a market capitalization of $165.20 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.74 and a beta of 0.96. NIKE, Inc. has a one year low of $103.46 and a one year high of $179.10. The company has a quick ratio of 2.18, a current ratio of 3.06 and a debt-to-equity ratio of 0.64.

NIKE (NYSE:NKEGet Rating) last released its quarterly earnings data on Monday, March 21st. The footwear maker reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.14. NIKE had a net margin of 13.06% and a return on equity of 43.04%. The company had revenue of $10.90 billion during the quarter, compared to analyst estimates of $10.61 billion. During the same period in the prior year, the firm earned $0.90 earnings per share. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, sell-side analysts anticipate that NIKE, Inc. will post 3.68 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Monday, June 6th will be given a dividend of $0.305 per share. The ex-dividend date is Friday, June 3rd. This represents a $1.22 annualized dividend and a yield of 1.16%. NIKE’s dividend payout ratio (DPR) is presently 32.19%.

Several analysts have issued reports on NKE shares. Cowen cut their price target on NIKE from $139.00 to $133.00 in a report on Thursday. The Goldman Sachs Group set a $177.00 target price on shares of NIKE in a report on Tuesday, March 22nd. Stifel Nicolaus decreased their target price on shares of NIKE from $160.00 to $150.00 in a research note on Monday, June 6th. Sanford C. Bernstein initiated coverage on shares of NIKE in a research report on Monday, March 14th. They issued an “outperform” rating and a $160.00 price target for the company. Finally, Telsey Advisory Group decreased their price objective on shares of NIKE from $170.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $155.85.

In related news, COO Andrew Campion sold 14,203 shares of the stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $120.61, for a total transaction of $1,713,023.83. Following the completion of the sale, the chief operating officer now owns 73,795 shares of the company’s stock, valued at $8,900,414.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew Friend sold 9,032 shares of NIKE stock in a transaction on Monday, June 13th. The stock was sold at an average price of $110.52, for a total transaction of $998,216.64. Following the completion of the transaction, the chief financial officer now directly owns 51,581 shares in the company, valued at $5,700,732.12. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.

About NIKE (Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.

See Also

Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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