World Investment Advisors Grows Stock Position in NIKE, Inc. $NKE

World Investment Advisors lifted its stake in NIKE, Inc. (NYSE:NKE) by 0.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,490 shares of the footwear maker’s stock after purchasing an additional 287 shares during the period. World Investment Advisors’ holdings in NIKE were worth $3,942,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Brighton Jones LLC boosted 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 purchasing an additional 160,980 shares during the period. Golden State Wealth Management LLC lifted its holdings in NIKE by 11.9% during the 1st quarter. Golden State Wealth Management LLC now owns 2,905 shares of the footwear maker’s stock worth $184,000 after buying an additional 310 shares during the last quarter. Koshinski Asset Management Inc. lifted its holdings in NIKE by 32.2% during the 1st quarter. Koshinski Asset Management Inc. now owns 8,833 shares of the footwear maker’s stock worth $561,000 after buying an additional 2,150 shares during the last quarter. Clear Creek Financial Management LLC lifted its holdings in NIKE by 253.0% during the 1st quarter. Clear Creek Financial Management LLC now owns 9,664 shares of the footwear maker’s stock worth $613,000 after buying an additional 6,926 shares during the last quarter. Finally, DAVENPORT & Co LLC lifted its holdings in NIKE by 4.0% during the 1st quarter. DAVENPORT & Co LLC now owns 95,387 shares of the footwear maker’s stock worth $6,047,000 after buying an additional 3,654 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Down 0.7%

NIKE stock opened at $64.90 on Friday. The company has a market capitalization of $95.93 billion, a P/E ratio of 33.28, a PEG ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The stock has a 50-day simple moving average of $71.57 and a 200-day simple moving average of $68.15. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 21.16% and a net margin of 6.23%.The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 EPS. Equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.5%. The ex-dividend date was Tuesday, September 2nd. NIKE’s payout ratio is 82.05%.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the transaction, the chairman directly owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NKE shares. Barclays set a $70.00 price target on NIKE and gave the stock a “positive” rating in a report on Wednesday, October 1st. Needham & Company LLC restated a “buy” rating and set a $78.00 price objective on shares of NIKE in a research report on Wednesday, October 1st. Telsey Advisory Group restated a “market perform” rating and set a $75.00 price objective on shares of NIKE in a research report on Wednesday, October 1st. Morgan Stanley set a $72.00 price objective on shares of NIKE and gave the stock a “positive” rating in a research report on Wednesday, October 1st. Finally, BTIG Research assumed coverage on shares of NIKE in a research report on Tuesday, October 14th. They set a “buy” rating and a $100.00 price objective for the company. 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. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus target price of $82.21.

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.