Quinn Opportunity Partners LLC Invests $1.82 Million in NIKE, Inc. (NYSE:NKE)

Quinn Opportunity Partners LLC purchased a new stake in NIKE, Inc. (NYSE:NKE) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 24,000 shares of the footwear maker’s stock, valued at approximately $1,816,000.

A number of other hedge funds have also bought and sold shares of the business. Norges Bank bought a new stake in NIKE in the 4th quarter valued at about $1,126,288,000. Wellington Management Group LLP raised its position in shares of NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after buying an additional 8,898,591 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of NIKE by 6,029.6% in the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after buying an additional 6,709,985 shares during the period. Bank of New York Mellon Corp grew its position in NIKE by 18.1% during the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after buying an additional 3,121,929 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in NIKE by 1,302.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock worth $196,901,000 after acquiring an additional 2,416,601 shares during the period. 64.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on NKE shares. Stifel Nicolaus cut their target price on NIKE from $75.00 to $64.00 and set a “hold” rating for the company in a research report on Thursday. Citigroup cut shares of NIKE from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $102.00 to $72.00 in a research report on Friday, February 7th. Royal Bank of Canada decreased their target price on shares of NIKE from $67.00 to $66.00 and set a “sector perform” rating on the stock in a report on Friday, March 21st. Evercore ISI cut their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, Wells Fargo & Company decreased their price objective on shares of NIKE from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Fifteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $86.19.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert Holmes Swan bought 8,600 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now directly owns 31,983 shares of the company’s stock, valued at $1,869,726.18. The trade was a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by company insiders.

NIKE Trading Up 0.1 %

Shares of NYSE NKE opened at $54.44 on Friday. The stock has a market cap of $80.52 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15. The firm has a 50 day moving average price of $70.03 and a two-hundred day moving average price of $74.93. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.94%. NIKE’s dividend payout ratio (DPR) is 53.16%.

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.