Jones Financial Companies Lllp bought a new stake in NIKE, Inc. (NYSE:NKE – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 48,016 shares of the footwear maker’s stock, valued at approximately $1,971,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in NKE. Main Street Financial Solutions LLC increased its stake in NIKE by 4.2% in the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after acquiring an additional 139 shares during the last quarter. ANB Bank raised its position in NIKE by 0.7% during the fourth quarter. ANB Bank now owns 25,451 shares of the footwear maker’s stock valued at $1,621,000 after purchasing an additional 165 shares in the last quarter. Cornerstone Wealth Management LLC lifted its stake in NIKE by 4.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 3,970 shares of the footwear maker’s stock worth $253,000 after purchasing an additional 169 shares during the last quarter. Caldwell Sutter Capital Inc. lifted its stake in NIKE by 7.6% during the fourth quarter. Caldwell Sutter Capital Inc. now owns 2,402 shares of the footwear maker’s stock worth $153,000 after purchasing an additional 170 shares during the last quarter. Finally, Activest Wealth Management boosted its holdings in shares of NIKE by 27.4% in the 4th quarter. Activest Wealth Management now owns 810 shares of the footwear maker’s stock valued at $52,000 after purchasing an additional 174 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.
NIKE Stock Down 0.1%
Shares of NYSE:NKE opened at $40.73 on Tuesday. NIKE, Inc. has a 52-week low of $38.86 and a 52-week high of $80.17. The company has a market capitalization of $60.43 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 1.81 and a beta of 1.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. The company has a fifty day moving average of $42.38 and a 200-day moving average of $47.69.
NIKE Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a $0.41 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 annualized dividend and a yield of 4.0%. NIKE’s dividend payout ratio (DPR) is currently 78.47%.
Insider Transactions at NIKE
In other news, COO Venkatesh Alagirisamy sold 890 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total value of $37,024.00. Following the completion of the transaction, the chief operating officer owned 74,820 shares of the company’s stock, valued at $3,112,512. This represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Philip Mccartney sold 17,398 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $46.18, for a total transaction of $803,439.64. Following the completion of the transaction, the executive vice president owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. This trade represents a 24.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 26,142 shares of company stock valued at $1,169,380. Company insiders own 1.10% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. Rothschild & Co Redburn decreased their price target on NIKE from $45.00 to $37.00 and set a “sell” rating on the stock in a research note on Friday, July 17th. Zacks Research upgraded NIKE from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 19th. Guggenheim reaffirmed a “buy” rating and issued a $60.00 price objective (down from $74.00) on shares of NIKE in a research note on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft lifted their target price on NIKE from $43.00 to $45.00 and gave the company a “hold” rating in a research report on Friday, July 17th. Finally, Bank of America lowered their target price on NIKE from $55.00 to $47.00 and set a “neutral” rating for the company in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $53.53.
Get Our Latest Stock Report on NKE
NIKE Profile
Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.
The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).
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