NIKE, Inc. (NYSE:NKE) Stock Holdings Increased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its holdings in NIKE, Inc. (NYSE:NKE) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 841,006 shares of the footwear maker’s stock after buying an additional 4,347 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of NIKE worth $63,409,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Annapolis Financial Services LLC grew its holdings in shares of NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 220 shares during the last quarter. True Wealth Design LLC increased its stake in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in NIKE during the 4th quarter worth about $33,000. Core Wealth Advisors Inc. lifted its stake in NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after buying an additional 241 shares in the last quarter. Finally, Pineridge Advisors LLC acquired a new position in shares of NIKE in the fourth quarter worth about $38,000. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on NKE. BMO Capital Markets cut their price target on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Guggenheim reduced their target price on NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, June 28th. The Goldman Sachs Group lowered their price target on NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Royal Bank of Canada increased their price objective on NIKE from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Finally, StockNews.com cut NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.52.

NIKE Price Performance

Shares of NIKE stock opened at $89.44 on Friday. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The firm has a fifty day simple moving average of $79.67 and a 200-day simple moving average of $86.67. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $135.00 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 earnings per share. On average, sell-side analysts expect that NIKE, Inc. will post 3.04 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was 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 of the company’s stock, valued at $80,419,507.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Mark G. Parker sold 110,000 shares of the business’s 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 transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated 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. Company insiders own 0.50% of the company’s stock.

NIKE 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.