iA Global Asset Management Inc. Boosts Holdings in NIKE, Inc. (NYSE:NKE)

iA Global Asset Management Inc. grew its position in shares of NIKE, Inc. (NYSE:NKE) by 17.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 882,159 shares of the footwear maker’s stock after buying an additional 129,890 shares during the quarter. iA Global Asset Management Inc. owned 0.06% of NIKE worth $66,488,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new stake in shares of NIKE in the 4th quarter valued at approximately $250,000. Stonebrook Private Inc. acquired a new stake in NIKE in the fourth quarter valued at $205,000. Silver Oak Securities Incorporated lifted its holdings in NIKE by 41.1% in the fourth quarter. Silver Oak Securities Incorporated now owns 2,642 shares of the footwear maker’s stock valued at $287,000 after acquiring an additional 770 shares during the period. Mather Group LLC. grew its stake in shares of NIKE by 16.8% during the 4th quarter. Mather Group LLC. now owns 13,071 shares of the footwear maker’s stock worth $1,419,000 after purchasing an additional 1,877 shares during the period. Finally, Choreo LLC grew its stake in shares of NIKE by 85.8% during the 4th quarter. Choreo LLC now owns 15,072 shares of the footwear maker’s stock worth $1,640,000 after purchasing an additional 6,962 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the topic of a number of research analyst reports. Barclays downgraded shares of NIKE from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $109.00 to $80.00 in a report on Friday, June 28th. Robert W. Baird decreased their price target on NIKE from $125.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. BMO Capital Markets lowered their price target on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. TD Cowen reduced their price objective on NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $115.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.59.

Insider Transactions at NIKE

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

NIKE Trading Up 0.1 %

NIKE stock traded up $0.07 during trading on Friday, reaching $83.33. The company had a trading volume of 13,751,888 shares, compared to its average volume of 11,453,677. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. 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 stock’s 50 day moving average price is $78.18 and its two-hundred day moving average price is $89.76. The firm has a market capitalization of $125.77 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 1.92 and a beta of 1.01.

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. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.66 EPS. As a group, equities analysts expect that NIKE, Inc. will post 3.12 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.78%. NIKE’s dividend payout ratio is presently 39.68%.

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.