Mountain Hill Investment Partners Corp. Buys 1,093 Shares of NIKE, Inc. $NKE

Mountain Hill Investment Partners Corp. grew its stake in NIKE, Inc. (NYSE:NKE) by 15,614.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,100 shares of the footwear maker’s stock after acquiring an additional 1,093 shares during the quarter. Mountain Hill Investment Partners Corp.’s holdings in NIKE were worth $78,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Stone House Investment Management LLC bought a new stake in shares of NIKE in the 1st quarter valued at about $25,000. Mascoma Wealth Management LLC bought a new stake in shares of NIKE in the 2nd quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC increased its stake in shares of NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 362 shares during the last quarter. Saudi Central Bank bought a new stake in shares of NIKE in the 1st quarter valued at about $30,000. Finally, Matrix Trust Co increased its stake in shares of NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 153 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction dated 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 transaction, the chairman directly owned 744,988 shares of the company’s stock, valued at $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NKE. Morgan Stanley set a $72.00 target price on NIKE and gave the company a “positive” rating in a research note on Wednesday, October 1st. Stifel Nicolaus set a $68.00 target price on NIKE and gave the company a “hold” rating in a research note on Wednesday, October 1st. Zacks Research raised NIKE from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and boosted their target price for the company from $62.00 to $85.00 in a research note on Wednesday, September 10th. Finally, Barclays set a $70.00 target price on NIKE and gave the company a “positive” rating in a research note on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus target price of $82.21.

NIKE Stock Down 0.5%

NKE stock opened at $64.59 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The stock has a market capitalization of $95.48 billion, a P/E ratio of 33.12, a P/E/G ratio of 2.41 and a beta of 1.29. The business has a 50-day moving average of $71.29 and a 200-day moving average of $68.31. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.22. The company 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%.NIKE’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 earnings per share. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio is currently 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.