Duality Advisers LP Raises Holdings in NIKE, Inc. (NYSE:NKE)

Duality Advisers LP boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 77.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,250 shares of the footwear maker’s stock after acquiring an additional 18,425 shares during the quarter. Duality Advisers LP’s holdings in NIKE were worth $3,971,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Cim LLC acquired a new stake in NIKE in the fourth quarter valued at approximately $14,275,000. TKG Advisors LLC purchased a new stake in NIKE in the 4th quarter worth $1,012,000. Louisiana State Employees Retirement System acquired a new position in NIKE during the fourth quarter worth $8,034,000. Brown Advisory Inc. increased its stake in shares of NIKE by 4.3% during the fourth quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock worth $506,908,000 after purchasing an additional 192,752 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of NIKE by 10,184.3% in the fourth quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock valued at $42,139,000 after acquiring an additional 384,357 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the transaction, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 213,660 shares of company stock worth $19,946,333. 0.50% of the stock is owned by company insiders.

NIKE Price Performance

Shares of NYSE:NKE traded up $0.25 during midday trading on Friday, hitting $73.64. 10,552,874 shares of the stock were exchanged, compared to its average volume of 11,164,431. The stock has a market cap of $111.15 billion, a P/E ratio of 19.74, a PEG ratio of 1.86 and a beta of 1.01. NIKE, Inc. has a twelve month low of $71.67 and a twelve month high of $123.39. The company has a 50 day moving average price of $89.89 and a 200-day moving average price of $96.31. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter in the prior year, the firm earned $0.66 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, research analysts forecast that NIKE, Inc. will post 3.17 earnings per share for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a dividend of $0.37 per share. The ex-dividend date was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 2.01%. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Oppenheimer restated an “outperform” rating and set a $120.00 target price on shares of NIKE in a report on Friday, June 28th. HSBC dropped their target price on NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a report on Friday, June 28th. Royal Bank of Canada reduced their price target on NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 2nd. Telsey Advisory Group cut their price objective on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Finally, Jefferies Financial Group cut their target price on NIKE from $90.00 to $80.00 in a research note on Friday. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $96.44.

NIKE Company 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.