MV Capital Management Inc. Increases Position in NIKE, Inc. (NYSE:NKE)

MV Capital Management Inc. boosted its holdings in NIKE, Inc. (NYSE:NKE) by 17.6% in the first quarter, HoldingsChannel reports. The firm owned 26,405 shares of the footwear maker’s stock after purchasing an additional 3,959 shares during the period. MV Capital Management Inc.’s holdings in NIKE were worth $2,482,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of NKE. Norges Bank bought a new stake in NIKE in the fourth quarter valued at about $1,315,097,000. Price T Rowe Associates Inc. MD raised its position in shares of NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after acquiring an additional 7,996,434 shares in the last quarter. Capital International Investors lifted its stake in NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after purchasing an additional 7,143,775 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in NIKE by 13,094.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,563,253 shares of the footwear maker’s stock worth $169,722,000 after purchasing an additional 1,551,405 shares during the period. Finally, GUARDCAP ASSET MANAGEMENT Ltd increased its stake in NIKE by 25.5% during the fourth quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 4,714,494 shares of the footwear maker’s stock valued at $511,853,000 after purchasing an additional 957,612 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

NKE has been the topic of a number of recent research reports. Morgan Stanley restated an “equal weight” rating and issued a $79.00 price target (down from $114.00) on shares of NIKE in a research report on Friday. Wells Fargo & Company lowered their target price on NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $115.00 price target on shares of NIKE in a report on Thursday, June 13th. UBS Group restated a “neutral” rating and set a $78.00 price objective on shares of NIKE in a research note on Friday. Finally, Barclays cut NIKE from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $109.00 to $80.00 in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $98.04.

Insider Buying and Selling

In related news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares in the company, valued at approximately $4,236,917.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 213,660 shares of company stock valued at $19,946,333. 0.50% of the stock is owned by corporate insiders.

NIKE Price Performance

NKE stock traded down $0.79 on Tuesday, hitting $76.04. 26,139,314 shares of the company’s stock traded hands, compared to its average volume of 10,698,846. The stock has a market cap of $114.77 billion, a price-to-earnings ratio of 20.38, a P/E/G ratio of 1.43 and a beta of 1.01. NIKE, Inc. has a 1-year low of $74.29 and a 1-year high of $123.39. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The stock has a fifty day moving average of $92.94 and a 200-day moving average of $98.54.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 EPS. On average, analysts forecast that NIKE, Inc. will post 3.9 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a $0.37 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.95%. NIKE’s dividend payout ratio (DPR) is 39.68%.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services 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.