Canada Post Corp Registered Pension Plan Buys 16,706 Shares of NIKE, Inc. $NKE

Canada Post Corp Registered Pension Plan lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 35.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 63,570 shares of the footwear maker’s stock after acquiring an additional 16,706 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in NIKE were worth $4,050,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Main Street Financial Solutions LLC raised its position in shares of NIKE by 4.2% during the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after acquiring an additional 139 shares during the last quarter. Diligent Investors LLC raised its position in shares of NIKE by 4.3% during the fourth quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock worth $237,000 after acquiring an additional 153 shares during the last quarter. CVA Family Office LLC raised its position in shares of NIKE by 8.0% during the third quarter. CVA Family Office LLC now owns 2,113 shares of the footwear maker’s stock worth $147,000 after acquiring an additional 156 shares during the last quarter. Naples Global Advisors LLC raised its position in shares of NIKE by 1.9% during the third quarter. Naples Global Advisors LLC now owns 8,514 shares of the footwear maker’s stock worth $597,000 after acquiring an additional 159 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of NIKE by 4.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock worth $253,000 after acquiring an additional 163 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Trading Up 0.0%

NYSE NKE opened at $41.88 on Monday. The business has a 50 day simple moving average of $47.89 and a 200 day simple moving average of $58.03. NIKE, Inc. has a one year low of $41.70 and a one year high of $80.17. The stock has a market capitalization of $62.03 billion, a P/E ratio of 27.74, a P/E/G ratio of 2.22 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The business had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter last year, the firm posted $0.54 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. Research analysts expect that NIKE, Inc. will post 1.51 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio (DPR) is 108.61%.

Insider Transactions at NIKE

In other news, Director Timothy D. Cook acquired 25,000 shares of NIKE stock in a transaction on Friday, April 10th. The stock was purchased at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the completion of the purchase, the director owned 130,480 shares of the company’s stock, valued at approximately $5,536,266.40. The trade was a 23.70% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Elliott Hill acquired 23,660 shares of NIKE stock in a transaction on Monday, April 13th. The stock was purchased at an average cost of $42.27 per share, with a total value of $1,000,108.20. Following the purchase, the chief executive officer directly owned 265,247 shares of the company’s stock, valued at approximately $11,211,990.69. This trade represents a 9.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NKE. Stifel Nicolaus lowered their price objective on NIKE from $65.00 to $56.00 and set a “hold” rating for the company in a research report on Wednesday, April 1st. JPMorgan Chase & Co. restated a “neutral” rating on shares of NIKE in a research report on Monday, April 13th. Jefferies Financial Group lowered their price objective on NIKE from $110.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Telsey Advisory Group decreased their target price on NIKE from $65.00 to $55.00 and set a “market perform” rating for the company in a research note on Wednesday, April 1st. Finally, Evercore decreased their target price on NIKE from $69.00 to $57.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $62.04.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).