NIKE, Inc. (NYSE:NKE) Position Increased by Industrial Alliance Investment Management Inc.

Industrial Alliance Investment Management Inc. increased its stake in NIKE, Inc. (NYSE:NKE) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,982 shares of the footwear maker’s stock after purchasing an additional 147 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in NIKE were worth $374,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Iron Horse Wealth Management LLC increased its position in NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Annapolis Financial Services LLC increased its position in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the period. Planned Solutions Inc. acquired a new stake in NIKE in the 4th quarter valued at approximately $29,000. True Wealth Design LLC increased its position in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares during the period. Finally, Core Wealth Advisors Inc. increased its position in NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after acquiring an additional 241 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 1.0 %

Shares of NIKE stock traded up $0.76 during midday trading on Tuesday, hitting $74.31. The company’s stock had a trading volume of 8,500,302 shares, compared to its average volume of 11,440,067. The firm has a market capitalization of $112.16 billion, a P/E ratio of 19.92, a PEG ratio of 1.89 and a beta of 1.01. The stock has a 50-day simple moving average of $84.77 and a 200-day simple moving average of $93.17. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a 1-year low of $70.91 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 earnings per share. As a group, sell-side analysts expect that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a dividend of $0.37 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.99%. NIKE’s payout ratio is 39.68%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Royal Bank of Canada lowered their target price on NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 2nd. Wedbush lowered their price target on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Morgan Stanley reiterated an “equal weight” rating and set a $79.00 price target (down from $114.00) on shares of NIKE in a research report on Friday, June 28th. TD Cowen lowered their price target on NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Finally, Citigroup lowered their price target on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $96.30.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 323,660 shares of company stock valued at $27,973,033. Insiders own 0.50% of the company’s stock.

NIKE 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.