Guggenheim Capital LLC Raises Stake in Nike Inc (NYSE:NKE)
Guggenheim Capital LLC grew its stake in shares of Nike Inc (NYSE:NKE) by 6.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 131,761 shares of the footwear maker’s stock after purchasing an additional 7,747 shares during the quarter. Guggenheim Capital LLC’s holdings in Nike were worth $10,903,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of NKE. Norges Bank purchased a new stake in shares of Nike during the fourth quarter valued at $1,314,457,000. Fisher Asset Management LLC boosted its stake in shares of Nike by 19,144.2% during the first quarter. Fisher Asset Management LLC now owns 5,892,758 shares of the footwear maker’s stock valued at $487,567,000 after purchasing an additional 5,862,137 shares during the period. Morgan Stanley boosted its stake in shares of Nike by 34.4% during the first quarter. Morgan Stanley now owns 20,528,550 shares of the footwear maker’s stock valued at $1,698,534,000 after purchasing an additional 5,256,195 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Nike by 36.5% during the fourth quarter. Alliancebernstein L.P. now owns 15,559,748 shares of the footwear maker’s stock valued at $1,576,358,000 after purchasing an additional 4,159,675 shares during the period. Finally, Fundsmith LLP purchased a new stake in shares of Nike during the first quarter valued at $191,903,000. 64.54% of the stock is owned by hedge funds and other institutional investors.
Shares of NKE traded down $5.48 during mid-day trading on Friday, hitting $95.93. 9,975,713 shares of the company traded hands, compared to its average volume of 7,282,626. Nike Inc has a 1-year low of $60.00 and a 1-year high of $105.62. The company has a quick ratio of 1.20, a current ratio of 1.90 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $155.63 billion, a PE ratio of 35.38, a price-to-earnings-growth ratio of 3.20 and a beta of 0.79. The business has a 50 day moving average of $95.75 and a 200 day moving average of $93.55.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.245 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.98 annualized dividend and a yield of 1.02%. Nike’s dividend payout ratio (DPR) is presently 39.36%.
In related news, CAO Hilary K. Krane sold 11,000 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $90.00, for a total value of $990,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John W. Rogers, Jr. purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, April 3rd. The stock was acquired at an average price of $84.63 per share, for a total transaction of $84,630.00. Following the acquisition, the director now owns 12,851 shares in the company, valued at approximately $1,087,580.13. The disclosure for this purchase can be found here. In the last quarter, insiders sold 236,000 shares of company stock worth $23,228,100. 3.80% of the stock is owned by corporate insiders.
A number of analysts have recently issued reports on NKE shares. Susquehanna Bancshares boosted their target price on shares of Nike from $100.00 to $130.00 and gave the company a “positive” rating in a research note on Monday. Barclays upped their price objective on shares of Nike from $92.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday. Cowen upped their price objective on shares of Nike from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $118.00 price objective on shares of Nike in a research note on Friday. Finally, BMO Capital Markets lowered their price objective on shares of Nike from $110.00 to $87.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $107.90.
Nike Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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