LGT Fund Management Co Ltd. Makes New $936,000 Investment in NIKE, Inc. $NKE

LGT Fund Management Co Ltd. bought a new stake in shares of NIKE, Inc. (NYSE:NKE) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 17,727 shares of the footwear maker’s stock, valued at approximately $936,000.

Several other large investors have also modified their holdings of NKE. Cornerstone Financial Management LLC purchased a new stake in shares of NIKE in the 4th quarter worth approximately $26,000. Sankala Group LLC purchased a new position in NIKE during the fourth quarter valued at approximately $26,000. J.Safra Asset Management Corp purchased a new position in NIKE during the fourth quarter valued at approximately $29,000. Kemnay Advisory Services Inc. bought a new position in NIKE in the fourth quarter worth approximately $30,000. Finally, Litman Gregory Wealth Management LLC bought a new position in NIKE in the fourth quarter worth approximately $32,000. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $46.18, for a total transaction of $803,439.64. Following the sale, the executive vice president owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. The trade was a 24.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.80% of the stock is owned by company insiders.

NIKE Trading Up 0.0%

Shares of NYSE:NKE opened at $44.39 on Monday. The business’s 50-day moving average is $43.71 and its 200 day moving average is $52.37. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36. NIKE, Inc. has a 1 year low of $40.00 and a 1 year high of $80.17. The firm has a market capitalization of $65.73 billion, a P/E ratio of 21.24, a P/E/G ratio of 2.56 and a beta of 1.12.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. During the same quarter last year, the company earned $0.14 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. On average, research analysts predict that NIKE, Inc. will post 1.76 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were paid a $0.41 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.7%. NIKE’s dividend payout ratio (DPR) is 78.47%.

Analysts Set New Price Targets

Several analysts have issued reports on NKE shares. UBS Group set a $48.00 target price on NIKE and gave the company a “neutral” rating in a research report on Wednesday, July 1st. Oppenheimer reduced their price target on NIKE to $60.00 and set an “outperform” rating for the company in a research report on Friday, June 26th. Barclays decreased their price objective on NIKE from $67.00 to $52.00 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. The Goldman Sachs Group dropped their price objective on NIKE from $46.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of NIKE in a research note on Thursday, June 4th. Thirteen research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, NIKE has a consensus rating of “Hold” and an average price target of $54.80.

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).