EDENTREE ASSET MANAGEMENT Ltd Grows Holdings in NIKE, Inc. (NYSE:NKE)

EDENTREE ASSET MANAGEMENT Ltd raised its position in NIKE, Inc. (NYSE:NKE) by 7.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 132,074 shares of the footwear maker’s stock after purchasing an additional 9,350 shares during the period. NIKE makes up about 3.2% of EDENTREE ASSET MANAGEMENT Ltd’s investment portfolio, making the stock its 6th biggest holding. EDENTREE ASSET MANAGEMENT Ltd’s holdings in NIKE were worth $9,953,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NKE. Price T Rowe Associates Inc. MD increased its position in shares of NIKE by 87.5% in 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 buying an additional 7,996,434 shares in the last quarter. Capital International Investors raised its position in shares of 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 period. Longview Partners Guernsey LTD acquired a new stake in shares of NIKE during the first quarter worth about $533,533,000. Capital World Investors lifted its holdings in shares of NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after purchasing an additional 4,457,376 shares in the last quarter. Finally, Jennison Associates LLC grew its position in shares of NIKE by 45.6% in the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after purchasing an additional 2,775,510 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Sanford C. Bernstein cut their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of NIKE in a research report on Friday, June 28th. Wedbush lowered their target price on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Robert W. Baird boosted their price target on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $96.52.

NIKE Stock Up 0.7 %

Shares of NKE opened at $88.04 on Thursday. The firm’s 50-day simple moving average is $78.70 and its 200 day simple moving average is $86.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The firm has a market cap of $132.88 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same period last year, the firm posted $0.66 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts forecast that NIKE, Inc. will post 3.04 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors 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 1.68%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Buying and Selling

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

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.