D.A. Davidson & CO. Acquires 12,024 Shares of NIKE, Inc. $NKE

D.A. Davidson & CO. increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 7.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 171,585 shares of the footwear maker’s stock after acquiring an additional 12,024 shares during the quarter. D.A. Davidson & CO.’s holdings in NIKE were worth $9,063,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NKE. J. Stern & Co. LLP boosted its position in shares of NIKE by 49,010.4% during the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock valued at $3,061,555,000 after acquiring an additional 47,956,692 shares in the last quarter. Norges Bank acquired a new position in NIKE in the fourth quarter worth about $829,956,000. Harris Associates L P bought a new position in NIKE during the second quarter worth about $621,525,000. Capital World Investors boosted its holdings in NIKE by 16.2% during the fourth quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after purchasing an additional 6,830,938 shares in the last quarter. Finally, Jasper Ridge Partners L.P. boosted its holdings in NIKE by 2,492.4% during the fourth quarter. Jasper Ridge Partners L.P. now owns 4,883,229 shares of the footwear maker’s stock valued at $311,111,000 after purchasing an additional 4,694,859 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Down 1.8%

NIKE stock opened at $43.78 on Friday. The firm has a market capitalization of $64.83 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 2.57 and a beta of 1.12. The company’s 50 day simple moving average is $43.67 and its 200 day simple moving average is $51.86. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36. NIKE, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $80.17.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.85 billion. During the same period in the previous year, the firm earned $0.14 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. As a group, sell-side analysts anticipate that NIKE, Inc. will post 1.76 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were given a $0.41 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.7%. NIKE’s dividend payout ratio (DPR) is 78.47%.

Insider Transactions at NIKE

In other news, EVP Philip Mccartney sold 17,398 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the transaction, the executive vice president owned 53,133 shares in the company, valued at $2,453,681.94. This trade represents a 24.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Barclays decreased their price target on NIKE from $67.00 to $52.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. Royal Bank Of Canada reissued a “neutral” rating on shares of NIKE in a report on Wednesday, July 1st. HSBC downgraded shares of NIKE from a “buy” rating to a “hold” rating and reduced their target price for the company from $90.00 to $48.00 in a research note on Monday, April 13th. Jefferies Financial Group lowered their target price on shares of NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Finally, DZ Bank reiterated a “buy” rating on shares of NIKE in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, NIKE currently has an average rating of “Hold” and a consensus target price of $54.80.

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).