NIKE, Inc. (NYSE:NKE) Shares Bought by Morse Asset Management Inc

Morse Asset Management Inc grew its stake in NIKE, Inc. (NYSE:NKE) by 4.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,947 shares of the footwear maker’s stock after acquiring an additional 481 shares during the quarter. Morse Asset Management Inc’s holdings in NIKE were worth $825,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in NIKE by 87.5% during the fourth 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 purchasing an additional 7,996,434 shares during the period. Capital International Investors raised its position in shares of NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after buying an additional 7,143,775 shares during the period. Longview Partners Guernsey LTD acquired a new position in NIKE in the first quarter valued at approximately $533,533,000. Capital World Investors grew its position in NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after acquiring an additional 4,457,376 shares during the period. Finally, Jennison Associates LLC increased its stake in NIKE by 45.6% during the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after acquiring an additional 2,775,510 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

NKE has been the subject of a number of research analyst reports. BMO Capital Markets lowered their price target on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Citigroup dropped their price target on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, June 28th. StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Evercore ISI increased their price objective on shares of NIKE from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $83.00 target price (down previously from $116.00) on shares of NIKE in a research report on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.15.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan acquired 2,941 shares of NIKE stock in a transaction on Friday, June 28th. The stock was bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, 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. Insiders own 0.50% of the company’s stock.

NIKE Stock Performance

Shares of NIKE stock opened at $86.52 on Monday. The firm has a market capitalization of $130.59 billion, a P/E ratio of 23.20, a P/E/G ratio of 2.08 and a beta of 1.02. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The firm’s 50 day moving average is $78.11 and its two-hundred day moving average is $86.99.

NIKE (NYSE:NKE) last announced its quarterly 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 net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same period last year, the business earned $0.66 EPS. NIKE’s revenue for the quarter was down 1.6% compared to the same quarter last year. Research analysts forecast that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.71%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

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.