Private Advisor Group LLC Boosts Stake in NIKE, Inc. (NYSE:NKE)

Private Advisor Group LLC grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,274 shares of the footwear maker’s stock after buying an additional 2,108 shares during the quarter. Private Advisor Group LLC’s holdings in NIKE were worth $6,654,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Segment Wealth Management LLC raised its position in shares of NIKE by 6.1% during the 3rd quarter. Segment Wealth Management LLC now owns 124,935 shares of the footwear maker’s stock valued at $11,044,000 after buying an additional 7,208 shares in the last quarter. Tempus Wealth Planning LLC raised its position in shares of NIKE by 23.3% during the 3rd quarter. Tempus Wealth Planning LLC now owns 4,894 shares of the footwear maker’s stock valued at $433,000 after buying an additional 925 shares in the last quarter. Eastern Bank raised its position in shares of NIKE by 250.9% during the 3rd quarter. Eastern Bank now owns 17,532 shares of the footwear maker’s stock valued at $1,550,000 after buying an additional 12,535 shares in the last quarter. Sierra Capital LLC purchased a new position in NIKE in the 3rd quarter worth $257,000. Finally, Oakworth Capital Inc. raised its position in NIKE by 37.8% in the 3rd quarter. Oakworth Capital Inc. now owns 2,066 shares of the footwear maker’s stock worth $183,000 after purchasing an additional 567 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 0.2 %

Shares of NKE opened at $78.85 on Friday. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The firm’s 50-day moving average price is $82.79 and its 200-day moving average price is $85.06. The firm has a market capitalization of $118.22 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 1.95 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the previous year, the firm posted $0.94 earnings per share. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. Sell-side analysts anticipate that NIKE, Inc. will post 2.78 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.88%. The ex-dividend date was Tuesday, September 3rd. NIKE’s payout ratio is currently 42.41%.

Analysts Set New Price Targets

NKE has been the topic of a number of analyst reports. Bank of America decreased their target price on shares of NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. decreased their target price on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. BMO Capital Markets decreased their target price on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Citigroup decreased their target price on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Finally, TD Cowen lifted their target price on shares of NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by insiders.

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.