Bayforest Capital Ltd Purchases New Shares in NIKE, Inc. $NKE

Bayforest Capital Ltd acquired a new position in NIKE, Inc. (NYSE:NKE) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,705 shares of the footwear maker’s stock, valued at approximately $121,000.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock valued at $7,182,831,000 after buying an additional 4,957,494 shares in the last quarter. Wellington Management Group LLP grew its stake in NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after acquiring an additional 9,043,180 shares during the period. Goldman Sachs Group Inc. increased its holdings in NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after acquiring an additional 20,688,013 shares in the last quarter. Bank of New York Mellon Corp raised its position in NIKE by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker’s stock worth $1,332,331,000 after acquiring an additional 620,214 shares during the period. Finally, Flossbach Von Storch SE lifted its holdings in NIKE by 24.0% during the first quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker’s stock valued at $652,995,000 after purchasing an additional 1,988,547 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Price Performance

NYSE:NKE opened at $67.46 on Friday. NIKE, Inc. has a one year low of $52.28 and a one year high of $83.95. The stock has a market cap of $99.72 billion, a PE ratio of 34.59, a P/E/G ratio of 2.46 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. The stock has a 50 day moving average price of $73.10 and a 200 day moving average price of $67.38.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is presently 82.05%.

Analysts Set New Price Targets

Several research analysts recently weighed in on NKE shares. TD Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating and upped their price target for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. Royal Bank Of Canada reissued an “outperform” rating on shares of NIKE in a report on Friday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $78.00 price target on shares of NIKE in a research note on Wednesday, October 1st. Zacks Research raised NIKE from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Finally, DZ Bank upgraded NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $82.21.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Treasure Heinle sold 4,300 shares of the business’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 in the company, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.

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.