Bayesian Capital Management LP Makes New Investment in NIKE, Inc. (NYSE:NKE)

Bayesian Capital Management LP bought a new position in shares of NIKE, Inc. (NYSE:NKE) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 19,416 shares of the footwear maker’s stock, valued at approximately $1,825,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of NIKE by 0.5% during the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after purchasing an additional 501,792 shares during the last quarter. Capital International Investors boosted its holdings in NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after acquiring an additional 7,143,775 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after acquiring an additional 7,996,434 shares during the last quarter. Norges Bank bought a new stake in NIKE in the fourth quarter valued at approximately $1,315,097,000. Finally, Fisher Asset Management LLC boosted its holdings in NIKE by 2.3% in the fourth quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock valued at $1,073,515,000 after acquiring an additional 219,091 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

NYSE NKE traded up $0.26 during trading hours on Tuesday, hitting $73.81. The company had a trading volume of 5,545,653 shares, compared to its average volume of 11,419,795. NIKE, Inc. has a 52 week low of $70.91 and a 52 week high of $123.39. The firm has a 50 day simple moving average of $85.14 and a 200 day simple moving average of $93.39. 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 firm has a market capitalization of $111.41 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 1.89 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter last year, the company earned $0.66 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. Equities research analysts expect that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 2.01%. NIKE’s dividend payout ratio is currently 39.68%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NKE. JPMorgan Chase & Co. restated a “neutral” rating and set a $83.00 price target (down from $116.00) on shares of NIKE in a report on Friday, June 28th. Stifel Nicolaus restated a “hold” rating and set a $88.00 price target (down from $117.00) on shares of NIKE in a report on Friday, June 28th. Telsey Advisory Group cut their price target on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. TD Cowen cut their price target on NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Finally, BMO Capital Markets lowered their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, NIKE currently has a consensus rating of “Hold” and a consensus price target of $96.30.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Holmes Swan purchased 2,941 shares of the stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Insiders sold a total of 323,660 shares of company stock worth $27,973,033 in the last quarter. 0.50% of the stock is owned by company insiders.

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.