JGP Wealth Management LLC Increases Holdings in NIKE, Inc. (NYSE:NKE)

JGP Wealth Management LLC lifted its holdings in NIKE, Inc. (NYSE:NKE) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,934 shares of the footwear maker’s stock after purchasing an additional 2,515 shares during the quarter. JGP Wealth Management LLC’s holdings in NIKE were worth $9,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after acquiring an additional 501,792 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after buying an additional 7,996,434 shares during the last quarter. Legal & General Group Plc boosted its stake in NIKE by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after purchasing an additional 571,544 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of NIKE by 2.2% during the fourth quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock worth $1,072,676,000 after buying an additional 211,360 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of NIKE by 45.6% in the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after purchasing an additional 2,775,510 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NKE traded down $0.35 on Friday, hitting $81.75. 4,556,740 shares of the company’s stock were exchanged, compared to its average volume of 11,728,735. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $81.49 and a 200-day moving average price of $85.77. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The stock has a market cap of $122.57 billion, a price-to-earnings ratio of 23.42, a P/E/G ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 earnings per share. As a group, equities analysts anticipate that NIKE, Inc. will post 2.8 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.81%. NIKE’s dividend payout ratio is currently 42.41%.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on 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 transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NKE has been the subject of several analyst reports. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and boosted their target price for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Wells Fargo & Company raised their target price on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Bank of America dropped their price objective on shares of NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Wedbush lowered their price objective on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Finally, Sanford C. Bernstein reduced their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.56.

About NIKE

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.