Quarry LP Grows Stake in NIKE, Inc. (NYSE:NKE)

Quarry LP raised its position in shares of NIKE, Inc. (NYSE:NKE) by 55.7% in the second quarter, HoldingsChannel reports. The firm owned 1,517 shares of the footwear maker’s stock after acquiring an additional 543 shares during the period. Quarry LP’s holdings in NIKE were worth $114,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 in the last quarter. Capital International Investors grew its holdings in NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after acquiring an additional 7,143,775 shares in the last quarter. Longview Partners Guernsey LTD purchased a new position in NIKE during the 1st quarter valued at about $533,533,000. Capital World Investors raised its holdings in shares of NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after purchasing an additional 4,457,376 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of NIKE by 45.6% in the 1st 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 period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The shares were 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 owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on NKE. Sanford C. Bernstein reduced their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and lifted their target price for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $92.00 target price on shares of NIKE in a report on Friday, September 20th. TD Cowen lowered their price target on shares of NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Finally, Raymond James reiterated a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average target price of $96.70.

NIKE Price Performance

NYSE:NKE opened at $89.13 on Wednesday. The firm’s fifty day moving average is $80.26 and its two-hundred day moving average is $86.41. The firm has a market cap of $134.53 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 2.30 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.66%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is 39.68%.

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.