WINTON GROUP Ltd Grows Stock Position in NIKE, Inc. $NKE

WINTON GROUP Ltd boosted its holdings in NIKE, Inc. (NYSE:NKE) by 63.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,923 shares of the footwear maker’s stock after acquiring an additional 16,978 shares during the period. WINTON GROUP Ltd’s holdings in NIKE were worth $1,803,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in NKE. Cornerstone Financial Management LLC acquired a new position in shares of NIKE in the 4th quarter valued at $26,000. Sankala Group LLC purchased a new stake in NIKE in the 4th quarter valued at about $26,000. J.Safra Asset Management Corp purchased a new stake in NIKE in the 4th quarter valued at about $29,000. Kemnay Advisory Services Inc. acquired a new position in NIKE in the fourth quarter valued at about $30,000. Finally, Scarborough Advisors LLC acquired a new position in NIKE in the first quarter valued at about $25,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Up 0.5%

Shares of NKE stock opened at $36.81 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. The stock has a market capitalization of $54.62 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 1.79 and a beta of 1.10. The company has a 50 day moving average price of $41.04 and a 200 day moving average price of $45.32. NIKE, Inc. has a fifty-two week low of $36.55 and a fifty-two week high of $76.97.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.14 EPS. Equities research analysts predict that NIKE, Inc. will post 1.74 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 1st. NIKE’s payout ratio is presently 78.47%.

Insider Buying and Selling

In related news, CFO Matthew Friend sold 2,463 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total transaction of $102,460.80. Following the completion of the transaction, the chief financial officer owned 82,165 shares in the company, valued at approximately $3,418,064. The trade was a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amy Montagne sold 4,867 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $42.05, for a total value of $204,657.35. Following the completion of the transaction, the insider directly owned 57,436 shares in the company, valued at $2,415,183.80. This trade represents a 7.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 14,974 shares of company stock worth $600,126 in the last quarter. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NKE shares. Guggenheim reiterated a “buy” rating and set a $60.00 price target (down from $74.00) on shares of NIKE in a research report on Wednesday, July 1st. BTIG Research reaffirmed a “buy” rating and set a $55.00 price objective on shares of NIKE in a research report on Wednesday, July 1st. Argus raised NIKE to a “strong-buy” rating in a research report on Wednesday, July 15th. Oppenheimer decreased their price target on NIKE from $120.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, June 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of NIKE in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty have issued a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $50.12.

Key NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Some analysts argue that NIKE’s core business remains viable despite weak sentiment. The depressed valuation and approximately 4.5% dividend yield could attract long-term investors if management can successfully restore growth. Nike Is Now Down 40% This Year
• Neutral Sentiment: NIKE shareholders approved an expanded employee stock purchase plan. The measure may help employee retention, although potential additional share issuance could dilute existing shareholders. Nike Shareholders Approve Expanded Employee Stock Purchase Plan
• Neutral Sentiment: NIKE’s latest quarterly results exceeded earnings and revenue expectations, but sales still declined year over year. Analysts currently expect about $1.74 in earnings per share for the full year, leaving the valuation dependent on a meaningful operational recovery.
• Negative Sentiment: Morgan Stanley warned that the selloff may continue, citing persistent operating weakness and disappointing performance. NIKE’s imminent removal from the S&P 100 may also reduce index-related demand and reinforce negative sentiment. Morgan Stanley Says the Pain May Not Be Over Yet
• Negative Sentiment: BMO Capital Markets issued a strongly bearish “Underperform”/“Strong Sell” view, adding to a series of negative Wall Street calls. Analysts continue to cite intense competition, shifting consumer preferences and broad product-market challenges. Nike Gains Another Bearish Call
• Negative Sentiment: Two senior executives sold shares worth approximately $234,000 combined under pre-arranged Rule 10b5-1 plans. The sales were relatively small and scheduled in advance, but they add to near-term caution among investors. NIKE Insider Selling

NIKE Profile

NIKE, Inc is a global athletic footwear, apparel and equipment company headquartered near Beaverton, Oregon. The company designs, develops and markets products under the NIKE, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.

NIKE’s offerings include athletic and casual footwear, sportswear, apparel, accessories and athletic equipment. The company distributes its products through company-owned retail stores, digital platforms, wholesale partners and independent distributors.