Pinebridge Investments L.P. Acquires 279,911 Shares of Nike Inc (NYSE:NKE)

Pinebridge Investments L.P. raised its holdings in Nike Inc (NYSE:NKE) by 516.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 334,148 shares of the footwear maker’s stock after purchasing an additional 279,911 shares during the period. Pinebridge Investments L.P.’s holdings in Nike were worth $28,052,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of NKE. FMR LLC raised its position in shares of Nike by 27.0% in the 1st quarter. FMR LLC now owns 23,077,703 shares of the footwear maker’s stock valued at $1,943,374,000 after buying an additional 4,908,916 shares in the last quarter. Jennison Associates LLC raised its position in shares of Nike by 13.6% in the 2nd quarter. Jennison Associates LLC now owns 23,510,331 shares of the footwear maker’s stock valued at $1,973,692,000 after buying an additional 2,809,878 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Nike by 40.8% in the 2nd quarter. Bessemer Group Inc. now owns 3,282,717 shares of the footwear maker’s stock valued at $275,583,000 after buying an additional 950,574 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Nike by 151.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,087,961 shares of the footwear maker’s stock valued at $91,253,000 after buying an additional 655,013 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Nike by 16.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 4,415,575 shares of the footwear maker’s stock valued at $370,688,000 after buying an additional 616,375 shares in the last quarter. 65.09% of the stock is owned by hedge funds and other institutional investors.

NYSE NKE traded up $0.92 on Thursday, hitting $87.67. The company’s stock had a trading volume of 4,057,024 shares, compared to its average volume of 6,388,151. The company has a quick ratio of 1.39, a current ratio of 2.10 and a debt-to-equity ratio of 0.38. Nike Inc has a 1-year low of $66.53 and a 1-year high of $90.00. The company’s 50-day moving average is $83.77 and its 200 day moving average is $84.72. The firm has a market cap of $138.94 billion, a PE ratio of 35.21, a PEG ratio of 2.35 and a beta of 0.79.



Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.04). Nike had a net margin of 10.30% and a return on equity of 45.12%. The business had revenue of $10.18 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same quarter last year, the company posted $0.69 earnings per share. The company’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts expect that Nike Inc will post 2.9 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.00%. The ex-dividend date is Friday, August 30th. Nike’s dividend payout ratio (DPR) is currently 35.34%.

In other Nike news, Director Elizabeth J. Comstock sold 24,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $84.84, for a total value of $2,036,160.00. Following the completion of the transaction, the director now directly owns 38,813 shares in the company, valued at approximately $3,292,894.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Elliott Hill sold 34,100 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $88.34, for a total transaction of $3,012,394.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,637 shares of company stock valued at $16,767,237. Corporate insiders own 3.80% of the company’s stock.

Several equities analysts have recently commented on NKE shares. JPMorgan Chase & Co. boosted their target price on shares of Nike from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Deutsche Bank set a $100.00 target price on shares of Nike and gave the company a “buy” rating in a research report on Wednesday, July 10th. Canaccord Genuity restated a “buy” rating and issued a $96.00 target price on shares of Nike in a research report on Wednesday, June 19th. Guggenheim restated a “buy” rating and issued a $100.00 target price on shares of Nike in a research report on Friday, August 23rd. Finally, UBS Group set a $87.00 target price on shares of Nike and gave the company a “neutral” rating in a research report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $90.39.

Nike Company Profile

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: 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, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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