Resonant Capital Advisors LLC Purchases 185 Shares of NIKE, Inc. (NYSE:NKE)

Resonant Capital Advisors LLC grew its holdings in NIKE, Inc. (NYSE:NKE) by 4.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,999 shares of the footwear maker’s stock after acquiring an additional 185 shares during the quarter. Resonant Capital Advisors LLC’s holdings in NIKE were worth $355,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Advisors Asset Management Inc. increased its stake in NIKE by 86.0% during the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after acquiring an additional 9,689 shares during the period. FORA Capital LLC acquired a new position in NIKE in the first quarter valued at about $3,412,000. Cetera Advisors LLC grew its stake in NIKE by 85.5% during the first quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock worth $8,298,000 after buying an additional 40,704 shares in the last quarter. Koshinski Asset Management Inc. bought a new position in NIKE in the 1st quarter valued at about $713,000. Finally, New Mexico Educational Retirement Board raised its position in shares of NIKE by 15.7% in the 1st quarter. New Mexico Educational Retirement Board now owns 74,248 shares of the footwear maker’s stock valued at $6,978,000 after buying an additional 10,100 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

NKE opened at $82.92 on Monday. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a market cap of $125.16 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 1.96 and a beta of 1.02. The company’s fifty day moving average price is $82.64 and its two-hundred day moving average price is $85.24. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.94 EPS. On average, analysts expect that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.78%. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. UBS Group lifted their price objective on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Morgan Stanley upped their price objective on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Telsey Advisory Group decreased their target price on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Royal Bank of Canada dropped their target price on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $96.56.

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.