NIKE, Inc. $NKE Shares Acquired by Intact Investment Management Inc.

Intact Investment Management Inc. increased its position in NIKE, Inc. (NYSE:NKE) by 20.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 96,500 shares of the footwear maker’s stock after purchasing an additional 16,600 shares during the period. Intact Investment Management Inc.’s holdings in NIKE were worth $6,148,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NKE. Guerra Advisors Inc acquired a new position in NIKE in the third quarter worth about $34,000. Gordian Capital Singapore Pte Ltd acquired a new position in NIKE in the third quarter worth about $35,000. Accredited Wealth Management LLC grew its stake in NIKE by 268.6% in the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock worth $36,000 after purchasing an additional 376 shares in the last quarter. Matrix Trust Co boosted its stake in NIKE by 43.6% in the fourth quarter. Matrix Trust Co now owns 596 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 181 shares during the period. Finally, Strive Asset Management LLC bought a new position in shares of NIKE during the third quarter valued at approximately $40,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NKE has been the topic of a number of research reports. BNP Paribas Exane dropped their price target on NIKE from $35.00 to $23.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 1st. DA Davidson downgraded NIKE from a “buy” rating to a “neutral” rating and cut their price target for the stock from $72.00 to $46.00 in a report on Thursday, April 2nd. Sanford C. Bernstein reissued a “buy” rating on shares of NIKE in a report on Friday, April 24th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of NIKE in a report on Monday, April 13th. Finally, DZ Bank reissued a “buy” rating on shares of NIKE in a report on Tuesday, April 21st. Seventeen investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $62.34.

NIKE Stock Performance

NKE stock opened at $44.46 on Monday. The company has a market capitalization of $65.85 billion, a P/E ratio of 29.45, a PEG ratio of 2.36 and a beta of 1.12. The company has a 50-day simple moving average of $51.39 and a 200 day simple moving average of $59.65. NIKE, Inc. has a fifty-two week low of $42.09 and a fifty-two week high of $80.17. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. The business had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 earnings per share. Sell-side analysts predict that NIKE, Inc. will post 1.51 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, March 2nd. NIKE’s dividend payout ratio is 108.61%.

Insider Transactions at NIKE

In other news, Director Timothy D. Cook bought 25,000 shares of the business’s stock in a transaction on Friday, April 10th. The stock was purchased at an average cost of $42.43 per share, for a total transaction of $1,060,750.00. Following the completion of the transaction, the director directly owned 130,480 shares of the company’s stock, valued at approximately $5,536,266.40. This trade represents a 23.70% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Holmes Swan bought 11,781 shares of the business’s stock in a transaction on Tuesday, April 7th. The stock was purchased at an average price of $42.44 per share, with a total value of $499,985.64. Following the completion of the transaction, the director directly owned 55,074 shares of the company’s stock, valued at $2,337,340.56. This trade represents a 27.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 64,441 shares of company stock valued at $2,734,204. 0.80% of the stock is currently owned by company insiders.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).