Industrial Alliance Investment Management Inc. Acquires 147 Shares of NIKE, Inc. (NYSE:NKE)

Industrial Alliance Investment Management Inc. lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.8% during the 1st quarter, Holdings Channel reports. The firm owned 3,982 shares of the footwear maker’s stock after purchasing an additional 147 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in NIKE were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Annapolis Financial Services LLC increased its stake in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the last quarter. Iron Horse Wealth Management LLC increased its stake in NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Planned Solutions Inc. bought a new position in NIKE in the fourth quarter valued at approximately $29,000. True Wealth Design LLC increased its stake in NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares during the last quarter. Finally, Frank Rimerman Advisors LLC bought a new position in NIKE in the fourth quarter valued at approximately $33,000. 64.25% of the stock is owned by institutional investors.

NIKE Trading Up 1.0 %

NKE stock traded up $0.76 during midday trading on Tuesday, hitting $74.31. The stock had a trading volume of 8,500,302 shares, compared to its average volume of 11,440,067. The firm has a market cap of $112.16 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 1.89 and a beta of 1.01. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a 1-year low of $70.91 and a 1-year high of $123.39. The business has a fifty day moving average price of $84.77 and a two-hundred day moving average price of $93.17.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, sell-side analysts predict that NIKE, Inc. will post 3.12 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.99%. NIKE’s dividend payout ratio is currently 39.68%.

Insider Activity

In other news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now owns 730 shares in the company, valued at approximately $68,357.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 323,660 shares of company stock worth $27,973,033. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Bank of America decreased their price objective on shares of NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Raymond James reissued a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $115.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Telsey Advisory Group cut their target price on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Finally, Jefferies Financial Group cut their target price on shares of NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $96.30.

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.