NIKE, Inc. $NKE Shares Bought by Brookstone Capital Management

Brookstone Capital Management boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 15.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,152 shares of the footwear maker’s stock after buying an additional 20,557 shares during the period. Brookstone Capital Management’s holdings in NIKE were worth $10,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Stone House Investment Management LLC purchased a new stake in NIKE during the 1st quarter valued at about $25,000. Mascoma Wealth Management LLC acquired a new position in shares of NIKE in the second quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC increased its holdings in shares of NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 362 shares during the period. Saudi Central Bank acquired a new position in shares of NIKE in the first quarter valued at about $30,000. Finally, Matrix Trust Co increased its holdings in shares of NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NKE shares. Stifel Nicolaus set a $68.00 price objective on NIKE and gave the company a “hold” rating in a report on Wednesday, October 1st. Needham & Company LLC reissued a “buy” rating and issued a $78.00 price objective on shares of NIKE in a report on Wednesday, October 1st. UBS Group set a $71.00 price objective on NIKE and gave the company a “neutral” rating in a report on Friday, September 19th. Zacks Research raised NIKE from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Finally, Weiss Ratings raised NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

NIKE Stock Up 1.0%

Shares of NKE opened at $69.03 on Thursday. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44. 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 company has a market capitalization of $102.03 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 2.52 and a beta of 1.29. The stock’s 50-day moving average price is $72.67 and its 200-day moving average price is $67.57.

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

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. NIKE’s dividend payout ratio is currently 82.05%.

Insider Buying and Selling

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 29,396 shares in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the transaction, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.

NIKE 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.