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

Victory Capital Management Inc. increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 11.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 711,351 shares of the footwear maker’s stock after buying an additional 70,903 shares during the quarter. Victory Capital Management Inc.’s holdings in NIKE were worth $53,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in NKE. Annapolis Financial Services LLC grew its holdings in shares of NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of NIKE during the fourth quarter valued at $33,000. Core Wealth Advisors Inc. lifted its position in NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the period. Finally, Gold Investment Management Ltd. acquired a new position in NIKE during the fourth quarter valued at $36,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Down 0.2 %

Shares of NYSE NKE opened at $80.63 on Monday. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The stock has a market cap of $121.70 billion, a PE ratio of 21.62, a P/E/G ratio of 2.19 and a beta of 1.02. 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 company has a 50-day moving average of $76.94 and a 200 day moving average of $88.56.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the prior year, the company earned $0.66 EPS. NIKE’s revenue was down 1.6% compared to the same quarter last year. As a group, sell-side analysts predict that NIKE, Inc. will post 3.1 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.84%. NIKE’s dividend payout ratio (DPR) is 39.68%.

Insider Activity

In other news, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the purchase, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NKE shares. Jefferies Financial Group decreased their target price on shares of NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. BMO Capital Markets decreased their target price on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. JPMorgan Chase & Co. restated a “neutral” rating and set a $83.00 target price (down from $116.00) on shares of NIKE in a research report on Friday, June 28th. Raymond James restated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Finally, Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and boosted their target price for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Fourteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.59.

NIKE Company Profile

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.