Banco Santander S.A. raised its stake in NIKE, Inc. (NYSE:NKE – Get Rating) by 492.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,867 shares of the footwear maker’s stock after acquiring an additional 74,702 shares during the period. Banco Santander S.A.’s holdings in NIKE were worth $12,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of NKE. Norges Bank acquired a new stake in shares of NIKE during the fourth quarter worth about $1,894,686,000. State Street Corp boosted its stake in shares of NIKE by 3.6% during 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 during the period. Jennison Associates LLC boosted its stake 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 worth $2,551,253,000 after buying an additional 1,944,401 shares during the period. Capital International Investors boosted its stake in shares of NIKE by 16.8% during the fourth quarter. Capital International Investors now owns 8,852,183 shares of the footwear maker’s stock worth $1,475,513,000 after buying an additional 1,274,615 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of NIKE by 476.2% during the first quarter. Assenagon Asset Management S.A. now owns 1,424,313 shares of the footwear maker’s stock worth $191,656,000 after buying an additional 1,177,113 shares during the period. Institutional investors and hedge funds own 65.35% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on NKE shares. Wedbush decreased their target price on shares of NIKE from $139.00 to $130.00 and set an “outperform” rating for the company in a research note on Tuesday, June 28th. UBS Group decreased their target price on shares of NIKE from $168.00 to $156.00 in a research note on Friday, July 15th. Seaport Res Ptn downgraded shares of NIKE from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 22nd. Stifel Nicolaus reduced their price objective on shares of NIKE from $135.00 to $130.00 in a research report on Wednesday, July 20th. Finally, KGI Securities downgraded shares of NIKE from an “outperform” rating to a “neutral” rating in a research report on Monday, May 23rd. Nine research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.08.
Insider Transactions at NIKE
NIKE Trading Down 0.5 %
Shares of NKE opened at $113.87 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.63 and a quick ratio of 1.84. The firm has a 50 day simple moving average of $110.34 and a 200-day simple moving average of $123.47. NIKE, Inc. has a 1-year low of $99.53 and a 1-year high of $179.10. The stock has a market cap of $178.61 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 2.40 and a beta of 1.02.
NIKE (NYSE:NKE – Get Rating) last issued its quarterly earnings data on Monday, June 27th. The footwear maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. NIKE had a net margin of 12.94% and a return on equity of 40.74%. The business had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $12.10 billion. During the same period last year, the company posted $0.93 EPS. The company’s revenue was down .8% on a year-over-year basis. Equities analysts forecast that NIKE, Inc. will post 3.82 EPS for the current fiscal year.
NIKE Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be paid a dividend of $0.305 per share. The ex-dividend date of this dividend is Friday, September 2nd. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.07%. NIKE’s dividend payout ratio (DPR) is 32.45%.
NIKE declared that its Board of Directors has authorized a share buyback plan on Monday, June 27th that authorizes the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization authorizes the footwear maker to buy up to 11% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.
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