Sequoia Financial Advisors LLC Boosts Position in Nike Inc (NYSE:NKE)

Sequoia Financial Advisors LLC raised its position in Nike Inc (NYSE:NKE) by 231.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,890 shares of the footwear maker’s stock after acquiring an additional 25,074 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Nike were worth $2,970,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NKE. BlackRock Inc. lifted its stake in Nike by 1.7% in the first quarter. BlackRock Inc. now owns 90,976,698 shares of the footwear maker’s stock valued at $7,527,412,000 after buying an additional 1,489,033 shares during the last quarter. FMR LLC lifted its stake in Nike by 4.5% in the fourth quarter. FMR LLC now owns 30,077,288 shares of the footwear maker’s stock valued at $3,047,131,000 after buying an additional 1,302,351 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Nike by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 26,547,619 shares of the footwear maker’s stock valued at $2,196,549,000 after buying an additional 584,343 shares during the last quarter. Geode Capital Management LLC lifted its stake in Nike by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 20,884,664 shares of the footwear maker’s stock valued at $2,112,370,000 after buying an additional 775,291 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Nike by 36.5% in 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 buying an additional 4,159,675 shares during the last quarter. 65.08% of the stock is owned by institutional investors and hedge funds.

NKE traded down $0.51 on Friday, hitting $93.75. The company had a trading volume of 4,040,519 shares, compared to its average volume of 6,715,255. The company’s fifty day moving average price is $87.02 and its 200 day moving average price is $92.42. Nike Inc has a 1-year low of $60.00 and a 1-year high of $105.62. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.90 and a quick ratio of 1.20. The stock has a market cap of $146.58 billion, a price-to-earnings ratio of 34.59, a price-to-earnings-growth ratio of 2.92 and a beta of 0.75.

Nike (NYSE:NKE) last posted its earnings results on Tuesday, March 24th. The footwear maker reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.19. Nike had a return on equity of 51.49% and a net margin of 10.46%. The firm had revenue of $10.10 billion during the quarter, compared to analyst estimates of $9.56 billion. During the same period in the previous year, the company earned $0.68 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, sell-side analysts forecast that Nike Inc will post 2.64 EPS for the current year.

The business also recently announced 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 1.05%. Nike’s dividend payout ratio (DPR) is currently 39.36%.

A number of brokerages recently weighed in on NKE. Goldman Sachs Group set a $102.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Thursday, April 23rd. Cowen restated an “outperform” rating and set a $85.00 price objective (up from $75.00) on shares of Nike in a research note on Wednesday, March 25th. Zacks Investment Research cut shares of Nike from a “hold” rating to a “sell” rating and set a $93.00 price objective on the stock. in a research note on Wednesday, March 11th. Deutsche Bank restated a “neutral” rating and set a $84.00 price objective on shares of Nike in a research note on Wednesday, April 29th. Finally, BMO Capital Markets cut their price objective on shares of Nike from $110.00 to $87.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 25th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-eight have given a buy rating to the company. Nike currently has a consensus rating of “Buy” and an average price target of $98.18.

In other Nike news, Director John W. Rogers, Jr. purchased 1,000 shares of the company’s stock in a transaction on Friday, April 3rd. The shares were bought at an average cost of $84.63 per share, with a total value of $84,630.00. Following the transaction, the director now directly owns 12,851 shares in the company, valued at approximately $1,087,580.13. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction on Thursday, March 26th. The stock was acquired at an average cost of $84.22 per share, for a total transaction of $210,550.00. Following the completion of the transaction, the director now owns 11,851 shares in the company, valued at $998,091.22. The disclosure for this purchase can be found here. Insiders own 3.80% of the company’s stock.

About Nike

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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