D.B. Root & Company LLC Boosts Holdings in NIKE, Inc. $NKE

D.B. Root & Company LLC grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,937 shares of the footwear maker’s stock after acquiring an additional 319 shares during the quarter. D.B. Root & Company LLC’s holdings in NIKE were worth $1,345,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mascoma Wealth Management LLC purchased a new position in shares of NIKE during the second quarter worth approximately $26,000. Stone House Investment Management LLC purchased a new position in shares of NIKE during the first quarter worth approximately $25,000. Halbert Hargrove Global Advisors LLC raised its stake in shares of NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 362 shares in the last quarter. Matrix Trust Co raised its stake in shares of NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after acquiring an additional 153 shares in the last quarter. Finally, Saudi Central Bank purchased a new position in shares of NIKE during the first quarter worth approximately $30,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

NYSE:NKE opened at $72.01 on Monday. The stock has a market cap of $106.34 billion, a P/E ratio of 36.93, a price-to-earnings-growth ratio of 2.64 and a beta of 1.29. The firm’s fifty day simple moving average is $74.62 and its 200 day simple moving average is $67.24. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $84.76. 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 (NYSE:NKE) last released its quarterly 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 business 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 for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 earnings per share. As a group, research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed 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 of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.2%. NIKE’s dividend payout ratio (DPR) is currently 82.05%.

Analyst Upgrades and Downgrades

NKE has been the topic of several recent analyst reports. Sanford C. Bernstein restated a “buy” rating and issued a $90.00 target price on shares of NIKE in a report on Wednesday, October 1st. Telsey Advisory Group restated a “market perform” rating and issued a $75.00 target price on shares of NIKE in a report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $77.00 to $71.00 and set a “buy” rating on the stock in a report on Friday, June 20th. Bank of America raised their target price on shares of NIKE from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, June 27th. Finally, Barclays set a $70.00 target price on shares of NIKE and gave the stock a “positive” rating in a report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.57.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.80% of the company’s stock.

NIKE Company 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.