DnB Asset Management AS Buys 3,046 Shares of NIKE, Inc. (NYSE:NKE)

DnB Asset Management AS raised its stake in NIKE, Inc. (NYSE:NKE) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 313,694 shares of the footwear maker’s stock after buying an additional 3,046 shares during the period. DnB Asset Management AS’s holdings in NIKE were worth $23,737,000 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 company. Heck Capital Advisors LLC bought a new stake in NIKE during the 4th quarter valued at $28,000. Caitlin John LLC raised its holdings in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares during the period. Roxbury Financial LLC bought a new position in shares of NIKE during the 4th quarter worth $30,000. LFA Lugano Financial Advisors SA raised its position in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after purchasing an additional 210 shares during the period. Finally, Hopwood Financial Services Inc. purchased a new stake in shares of NIKE during the fourth quarter worth $30,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

NKE has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a report on Monday, December 16th. BMO Capital Markets dropped their target price on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Telsey Advisory Group reissued a “market perform” rating and set a $80.00 price objective on shares of NIKE in a research report on Monday, March 17th. Bank of America dropped their target price on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Royal Bank of Canada lowered their price target on NIKE from $67.00 to $66.00 and set a “sector perform” rating on the stock in a report on Friday, March 21st. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Stock Down 3.8 %

Shares of NYSE:NKE opened at $63.32 on Friday. The firm has a market capitalization of $93.65 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The business has a 50 day simple moving average of $74.16 and a two-hundred day simple moving average of $76.94. NIKE, Inc. has a 1 year low of $63.14 and a 1 year high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the prior year, the company posted $0.98 EPS. NIKE’s quarterly revenue was down 9.1% on a year-over-year basis. On average, equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.53%. NIKE’s dividend payout ratio (DPR) is 53.16%.

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.