IFM Investors Pty Ltd raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 17.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,847 shares of the footwear maker’s stock after purchasing an additional 17,391 shares during the quarter. IFM Investors Pty Ltd’s holdings in NIKE were worth $16,955,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Adams Wealth Management bought a new position in shares of NIKE in the third quarter valued at approximately $28,000. Sound Income Strategies LLC lifted its stake in NIKE by 163.8% during the 3rd quarter. Sound Income Strategies LLC now owns 248 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 154 shares in the last quarter. Planned Solutions Inc. purchased a new position in NIKE during the 3rd quarter worth $32,000. Newfound Research LLC bought a new stake in shares of NIKE in the 3rd quarter worth $32,000. Finally, Bainco International Investors purchased a new stake in shares of NIKE in the fourth quarter valued at about $56,000. Hedge funds and other institutional investors own 55.61% of the company’s stock.
NYSE NKE traded down $2.01 during trading hours on Wednesday, reaching $143.04. 3,212,191 shares of the stock traded hands, compared to its average volume of 4,610,482. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.55 and a quick ratio of 1.77. The stock has a 50 day simple moving average of $139.88 and a two-hundred day simple moving average of $120.86. NIKE, Inc. has a 1 year low of $60.00 and a 1 year high of $147.95. The company has a market cap of $224.55 billion, a price-to-earnings ratio of 85.65, a price-to-earnings-growth ratio of 2.76 and a beta of 0.84.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 29th. Shareholders of record on Monday, December 7th were given a dividend of $0.275 per share. This is a boost from NIKE’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Friday, December 4th. NIKE’s dividend payout ratio (DPR) is presently 59.46%.
A number of equities research analysts have issued reports on NKE shares. KeyCorp assumed coverage on shares of NIKE in a research report on Friday, December 11th. They issued an “overweight” rating and a $174.00 price objective for the company. BidaskClub lowered NIKE from a “buy” rating to a “hold” rating in a report on Thursday, December 31st. Cowen upped their price objective on NIKE from $150.00 to $165.00 in a research note on Tuesday, December 8th. Wells Fargo & Company lifted their target price on NIKE from $146.00 to $157.00 and gave the stock an “overweight” rating in a research note on Monday, December 21st. Finally, TheStreet raised shares of NIKE from a “c+” rating to a “b” rating in a report on Tuesday, September 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $153.85.
In other NIKE news, VP Chris L. Abston sold 30,000 shares of the company’s stock in a transaction dated Thursday, January 7th. The shares were sold at an average price of $145.00, for a total transaction of $4,350,000.00. Also, CAO Hilary K. Krane sold 5,670 shares of the firm’s stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $123.30, for a total value of $699,111.00. The disclosure for this sale can be found here. Insiders have sold 450,170 shares of company stock worth $63,160,981 over the last three months. Insiders own 3.80% of the company’s stock.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
See Also: What is the definition of arbitrage?
Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE).
Receive News & Ratings for NIKE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIKE and related companies with MarketBeat.com's FREE daily email newsletter.