Intellectus Partners LLC Increases Stake in NIKE, Inc. $NKE

Intellectus Partners LLC raised its position in NIKE, Inc. (NYSE:NKE) by 24.4% during the second quarter, HoldingsChannel reports. The firm owned 16,256 shares of the footwear maker’s stock after purchasing an additional 3,186 shares during the period. Intellectus Partners LLC’s holdings in NIKE were worth $1,161,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in NIKE by 1.0% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock valued at $1,007,000 after purchasing an additional 134 shares in the last quarter. Caldwell Sutter Capital Inc. lifted its holdings in NIKE by 6.3% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock valued at $170,000 after purchasing an additional 142 shares in the last quarter. Salomon & Ludwin LLC lifted its holdings in NIKE by 10.1% in the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock valued at $120,000 after purchasing an additional 145 shares in the last quarter. Westmount Partners LLC lifted its holdings in NIKE by 2.9% in the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock valued at $367,000 after purchasing an additional 146 shares in the last quarter. Finally, HB Wealth Management LLC raised its holdings in shares of NIKE by 0.3% during the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock worth $3,695,000 after acquiring an additional 147 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity

In other news, Chairman Mark G. Parker sold 86,078 shares of the business’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 approximately $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. 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 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 approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on NKE shares. Morgan Stanley set a $72.00 price target on NIKE and gave the stock a “positive” rating in a report on Wednesday, October 1st. BTIG Research started coverage on NIKE in a report on Tuesday, October 14th. They set a “buy” rating and a $100.00 price target on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $115.00 price target on shares of NIKE in a report on Monday, September 29th. 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 upgraded 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-five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

NIKE Stock Performance

NYSE NKE opened at $64.59 on Monday. The company has a market cap 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 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 50-day moving average of $71.29 and a two-hundred day moving average of $68.41. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. The company had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.NIKE’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 EPS. As a group, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders 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 of this dividend was Tuesday, September 2nd. NIKE’s payout ratio is currently 82.05%.

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.