Eagle Rock Investment Company LLC boosted its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 49.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 60,642 shares of the footwear maker's stock after purchasing an additional 19,991 shares during the quarter. Eagle Rock Investment Company LLC's holdings in NIKE were worth $4,589,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. State Street Corp grew its stake in NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker's stock valued at $5,140,796,000 after acquiring an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of NIKE by 5.1% in the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker's stock valued at $2,425,886,000 after purchasing an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC grew its position in shares of NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker's stock valued at $2,204,451,000 after purchasing an additional 251,411 shares during the last quarter. Legal & General Group Plc increased its stake in shares of NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker's stock worth $832,785,000 after purchasing an additional 571,544 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of NIKE by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker's stock worth $910,801,000 after purchasing an additional 583,207 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.
NIKE stock opened at $71.11 on Friday. The firm has a fifty day moving average of $75.97 and a 200-day moving average of $78.01. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $105.18 billion, a P/E ratio of 21.95, a PEG ratio of 2.26 and a beta of 1.02.
NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm's quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 EPS. As a group, analysts predict that NIKE, Inc. will post 2.1 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from NIKE's previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.25%. NIKE's payout ratio is 49.38%.
In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the business's stock in a transaction on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares of the company's stock, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by company insiders.
A number of equities research analysts have commented on NKE shares. Needham & Company LLC reiterated a "buy" rating and set a $84.00 target price on shares of NIKE in a report on Friday, December 20th. JPMorgan Chase & Co. dropped their price objective on NIKE from $77.00 to $73.00 and set a "neutral" rating for the company in a research report on Monday, December 2nd. Wells Fargo & Company cut their target price on shares of NIKE from $95.00 to $92.00 and set an "overweight" rating for the company in a research note on Monday, December 16th. Stifel Nicolaus decreased their price target on shares of NIKE from $79.00 to $75.00 and set a "hold" rating on the stock in a research note on Friday, December 20th. Finally, UBS Group reissued a "neutral" rating and issued a $73.00 price objective on shares of NIKE in a research report on Thursday, December 26th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, NIKE presently has a consensus rating of "Moderate Buy" and an average target price of $89.96.
View Our Latest Analysis on NKE
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider NIKE, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NIKE wasn't on the list.
While NIKE currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.