DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Increases Stock Holdings in NIKE, Inc. $NKE

by · The Cerbat Gem

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 3,129.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,091,426 shares of the footwear maker’s stock after buying an additional 8,809,950 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned about 0.62% of NIKE worth $645,855,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Norges Bank purchased a new stake in NIKE in the second quarter valued at $835,063,000. Wellington Management Group LLP increased its position in shares of NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after purchasing an additional 9,043,180 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of NIKE by 66.1% in the 2nd quarter. Invesco Ltd. now owns 12,157,198 shares of the footwear maker’s stock valued at $863,647,000 after purchasing an additional 4,840,114 shares during the last quarter. Generation Investment Management LLP purchased a new stake in shares of NIKE in the 1st quarter valued at about $215,768,000. Finally, Laurel Wealth Advisors LLC boosted its position in shares of NIKE by 7,295.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,072,506 shares of the footwear maker’s stock valued at $218,271,000 after purchasing an additional 3,030,962 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $67.75 on Friday. The stock has a market capitalization of $100.15 billion, a P/E ratio of 34.74, a P/E/G ratio of 2.31 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44. The company’s fifty day moving average is $65.49 and its two-hundred day moving average is $69.22.

NIKE (NYSE:NKE – Get Free Report) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. The business had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.70 earnings per share. On average, sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.64 dividend on an annualized basis and a yield of 2.4%. This is a boost from NIKE’s previous quarterly dividend of $0.40. NIKE’s dividend payout ratio is presently 84.10%.

Insiders Place Their Bets

In other NIKE news, Director Jorgen Vig Knudstorp bought 16,150 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was acquired at an average cost of $62.09 per share, with a total value of $1,002,753.50. Following the purchase, the director owned 21,388 shares in the company, valued at approximately $1,327,980.92. This represents a 308.32% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Zacks Research upgraded shares of NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of NIKE in a report on Friday, October 10th. Telsey Advisory Group reiterated a “market perform” rating and set a $75.00 price target on shares of NIKE in a research note on Wednesday. Finally, KeyCorp set a $90.00 price objective on shares of NIKE and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Four investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $81.10.

Check Out Our Latest Stock Report on NIKE

NIKE Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE – Free Report).