Hazlett Burt & Watson Inc. Boosts Stock Position in NIKE, Inc. $NKE

Hazlett Burt & Watson Inc. grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 126.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,425 shares of the footwear maker’s stock after buying an additional 795 shares during the period. Hazlett Burt & Watson Inc.’s holdings in NIKE were worth $100,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NKE. Brighton Jones LLC lifted its position in shares of NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after buying an additional 160,980 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of NIKE by 39.1% during the 1st quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker’s stock valued at $1,325,000 after buying an additional 5,863 shares in the last quarter. Simon Quick Advisors LLC lifted its holdings in NIKE by 21.0% in the 1st quarter. Simon Quick Advisors LLC now owns 3,986 shares of the footwear maker’s stock worth $253,000 after purchasing an additional 691 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in NIKE by 9.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 177,009 shares of the footwear maker’s stock worth $11,236,000 after purchasing an additional 14,748 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its holdings in NIKE by 30.6% in the 1st quarter. Ritholtz Wealth Management now owns 8,939 shares of the footwear maker’s stock worth $567,000 after purchasing an additional 2,095 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the sale, the executive vice president owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 200,378 shares of company stock valued at $14,794,264 over the last 90 days. 0.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on NKE. Zacks Research raised NIKE from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Citigroup raised NIKE from a “neutral” rating to a “positive” rating in a report on Friday, September 19th. Bank of America boosted their price target on NIKE from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, June 27th. Barclays set a $70.00 price target on NIKE and gave the stock a “positive” rating in a report on Wednesday, October 1st. Finally, Argus raised NIKE to a “buy” rating in a report on Sunday, July 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $81.57.

NIKE Price Performance

NKE opened at $67.39 on Tuesday. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The stock has a market cap of $99.61 billion, a P/E ratio of 34.56, a PEG ratio of 2.38 and a beta of 1.29. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $84.76. The business has a fifty day moving average of $73.66 and a 200 day moving average of $67.33.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The firm had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 EPS. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio is 82.05%.

About NIKE

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.