Bayforest Capital Ltd Purchases Shares of 1,705 NIKE, Inc. $NKE

Bayforest Capital Ltd bought a new position in shares of NIKE, Inc. (NYSE:NKE) in the 2nd quarter, Holdings Channel.com reports. The fund bought 1,705 shares of the footwear maker’s stock, valued at approximately $121,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Brighton Jones LLC increased its holdings in NIKE by 388.5% in the fourth 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 during the last quarter. GAMMA Investing LLC increased its position in NIKE by 39.1% in the 1st quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker’s stock valued at $1,325,000 after acquiring an additional 5,863 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of NIKE by 9.1% during the first 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 during the last quarter. Janney Montgomery Scott LLC raised its position in NIKE by 8.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 140,764 shares of the footwear maker’s stock worth $8,936,000 after buying an additional 10,679 shares during the last quarter. Finally, CWA Asset Management Group LLC boosted its holdings in shares of NIKE by 20.0% in the first quarter. CWA Asset Management Group LLC now owns 18,424 shares of the footwear maker’s stock valued at $1,170,000 after acquiring an additional 3,077 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Up 0.9%

Shares of NKE stock opened at $67.46 on Friday. The stock has a market cap of $99.72 billion, a P/E ratio of 34.59, a P/E/G ratio of 2.46 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $83.95. The business has a fifty day simple moving average of $73.10 and a 200-day simple moving average of $67.38.

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

NIKE Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating and set a $115.00 price target on shares of NIKE in a report on Monday, September 29th. TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and lifted their price target for the company from $62.00 to $85.00 in a research note on Wednesday, September 10th. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Argus raised shares of NIKE to a “buy” rating in a research note on Sunday, July 6th. Finally, Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, September 10th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $82.21.

Insiders Place Their Bets

In related news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the transaction, the chairman directly owned 744,988 shares of the company’s stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.

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.