NIKE, Inc. (NYSE:NKE) Position Boosted by McAdam LLC

McAdam LLC grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 6.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,852 shares of the footwear maker’s stock after purchasing an additional 169 shares during the period. McAdam LLC’s holdings in NIKE were worth $252,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Ascent Wealth Partners LLC grew its position in shares of NIKE by 0.4% in the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after purchasing an additional 115 shares during the period. Condor Capital Management boosted its position in NIKE by 0.4% during the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after acquiring an additional 116 shares during the last quarter. Lodestone Wealth Management LLC boosted its position in NIKE by 5.5% during the 1st quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock worth $211,000 after acquiring an additional 118 shares during the last quarter. Nvwm LLC boosted its position in NIKE by 1.0% during the 1st quarter. Nvwm LLC now owns 11,568 shares of the footwear maker’s stock worth $1,091,000 after acquiring an additional 120 shares during the last quarter. Finally, Stephens Consulting LLC boosted its position in NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after acquiring an additional 128 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Bank of America reduced their price target on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. The Goldman Sachs Group reduced their price target on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. dropped their price objective on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Finally, 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 note on Wednesday, September 25th. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $96.56.

NIKE Stock Performance

NKE opened at $78.85 on Friday. The firm has a market cap of $118.22 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The business’s fifty day moving average is $82.79 and its 200-day moving average is $85.06.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 39.84% and a net margin of 10.60%. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS. Sell-side analysts expect that NIKE, Inc. will post 2.78 EPS for the current fiscal year.

NIKE Announces Dividend

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

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.