Parallel Advisors LLC Has $1.27 Million Position in Nike Inc (NKE)

Parallel Advisors LLC lifted its position in shares of Nike Inc (NYSE:NKE) by 6.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 15,128 shares of the footwear maker’s stock after purchasing an additional 947 shares during the period. Parallel Advisors LLC’s holdings in Nike were worth $1,274,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc lifted its stake in Nike by 1.2% in the 3rd quarter. Vanguard Group Inc now owns 102,670,288 shares of the footwear maker’s stock worth $8,698,227,000 after purchasing an additional 1,207,986 shares in the last quarter. BlackRock Inc. raised its position in shares of Nike by 4.3% during the 4th quarter. BlackRock Inc. now owns 86,268,224 shares of the footwear maker’s stock valued at $6,395,928,000 after buying an additional 3,592,186 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Nike by 6,517.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 35,283,152 shares of the footwear maker’s stock valued at $476,000 after buying an additional 34,749,961 shares in the last quarter. Northern Trust Corp raised its position in shares of Nike by 2.4% during the 4th quarter. Northern Trust Corp now owns 20,985,790 shares of the footwear maker’s stock valued at $1,555,886,000 after buying an additional 491,974 shares in the last quarter. Finally, FMR LLC raised its position in shares of Nike by 10.2% during the 4th quarter. FMR LLC now owns 18,168,787 shares of the footwear maker’s stock valued at $1,347,034,000 after buying an additional 1,689,091 shares in the last quarter. Institutional investors own 65.94% of the company’s stock.

In other news, EVP John F. Slusher sold 110,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $85.02, for a total value of $9,352,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Monique S. Matheson sold 16,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $88.21, for a total transaction of $1,455,465.00. The disclosure for this sale can be found here. Insiders sold a total of 166,504 shares of company stock worth $14,320,816 over the last 90 days. Insiders own 3.90% of the company’s stock.

NKE has been the topic of several recent research reports. Cowen upgraded shares of Nike from a “market perform” rating to an “outperform” rating and upped their target price for the company from $80.00 to $90.00 in a research report on Tuesday, January 22nd. Rowe upgraded shares of Nike from a “sell” rating to an “outperform” rating and set a $100.00 target price on the stock in a research report on Friday, February 8th. Oppenheimer upped their target price on shares of Nike from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, February 8th. UBS Group restated a “neutral” rating and set a $86.00 target price on shares of Nike in a research report on Friday, February 15th. Finally, Wedbush upped their target price on shares of Nike from $90.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $87.10.

Shares of NKE stock opened at $84.57 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.17. The stock has a market capitalization of $132.92 billion, a price-to-earnings ratio of 34.95, a P/E/G ratio of 2.54 and a beta of 0.67. Nike Inc has a one year low of $66.53 and a one year high of $90.00.

Nike (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.03. The business had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $9.60 billion. Nike had a net margin of 10.79% and a return on equity of 45.78%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, equities analysts forecast that Nike Inc will post 2.55 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.22 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.88 dividend on an annualized basis and a yield of 1.04%. Nike’s dividend payout ratio is currently 36.36%.

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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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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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