Alberta Investment Management Corp Grows Stock Holdings in NIKE, Inc. (NYSE:NKE)

Alberta Investment Management Corp grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 54.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 285,627 shares of the footwear maker’s stock after purchasing an additional 100,900 shares during the period. Alberta Investment Management Corp’s holdings in NIKE were worth $21,613,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Range Financial Group LLC purchased a new position in shares of NIKE during the fourth quarter valued at approximately $642,000. Cacti Asset Management LLC bought a new stake in shares of NIKE during the fourth quarter valued at approximately $9,987,000. Capricorn Fund Managers Ltd bought a new stake in shares of NIKE during the fourth quarter valued at approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. increased its position in shares of NIKE by 31.1% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after acquiring an additional 6,124 shares in the last quarter. Finally, FNY Investment Advisers LLC increased its position in shares of NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after acquiring an additional 8,504 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Up 6.2 %

Shares of NKE stock opened at $77.54 on Wednesday. The company’s fifty day simple moving average is $74.38 and its two-hundred day simple moving average is $78.07. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock has a market cap of $114.70 billion, a P/E ratio of 23.93, a PEG ratio of 2.38 and a beta of 1.01. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $106.62.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 EPS. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is 49.38%.

Analyst Upgrades and Downgrades

NKE has been the subject of several analyst reports. Morgan Stanley reduced their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Evercore ISI reduced their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Stifel Nicolaus reduced their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. BMO Capital Markets raised their price target on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, Bank of America cut their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average target price of $88.62.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

NIKE Company 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.