Private Advisor Group LLC Has $5.52 Million Holdings in NIKE, Inc. (NYSE:NKE)

Private Advisor Group LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 17.3% during the second quarter, HoldingsChannel.com reports. The fund owned 73,166 shares of the footwear maker’s stock after purchasing an additional 10,794 shares during the period. Private Advisor Group LLC’s holdings in NIKE were worth $5,515,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NKE. Cim LLC acquired a new stake in shares of NIKE in the fourth quarter worth $14,275,000. TKG Advisors LLC bought a new stake in NIKE during the fourth quarter valued at about $1,012,000. Brown Advisory Inc. grew its position in shares of NIKE by 4.3% in the fourth quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock valued at $506,908,000 after purchasing an additional 192,752 shares during the last quarter. Missouri Trust & Investment Co increased its stake in shares of NIKE by 11.3% in the fourth quarter. Missouri Trust & Investment Co now owns 11,492 shares of the footwear maker’s stock worth $1,248,000 after purchasing an additional 1,167 shares during the period. Finally, Spartan Planning & Wealth Management acquired a new position in shares of NIKE during the 4th quarter worth about $182,000. 64.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on NKE shares. Citigroup lowered their target price on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $79.00 target price (down previously from $114.00) on shares of NIKE in a research report on Friday, June 28th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $83.00 price target (down from $116.00) on shares of NIKE in a report on Friday, June 28th. UBS Group restated a “neutral” rating and issued a $78.00 price target on shares of NIKE in a research report on Friday, June 28th. Finally, HSBC cut their price objective on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Fourteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $95.59.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The stock was bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Robert Holmes Swan purchased 2,941 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

NIKE Price Performance

Shares of NIKE stock opened at $79.50 on Tuesday. The stock has a market capitalization of $119.20 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 2.11 and a beta of 1.02. The firm’s 50-day moving average price is $76.99 and its two-hundred day moving average price is $88.38. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same period in the prior year, the company earned $0.66 EPS. NIKE’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities analysts predict that NIKE, Inc. will post 3.1 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.86%. NIKE’s dividend payout ratio is 39.68%.

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.