NIKE, Inc. $NKE Shares Acquired by Hennessy Advisors Inc.

Hennessy Advisors Inc. grew its stake in NIKE, Inc. (NYSE:NKE) by 2.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 78,950 shares of the footwear maker’s stock after acquiring an additional 1,650 shares during the period. Hennessy Advisors Inc.’s holdings in NIKE were worth $5,609,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in NKE. Caldwell Sutter Capital Inc. raised its holdings in shares of NIKE by 6.3% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock valued at $170,000 after buying an additional 142 shares during the period. Westmount Partners LLC increased its stake in NIKE by 2.9% during the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock worth $367,000 after purchasing an additional 146 shares during the period. HB Wealth Management LLC lifted its position in shares of NIKE by 0.3% during the second quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock worth $3,695,000 after purchasing an additional 147 shares in the last quarter. Matrix Trust Co boosted its stake in shares of NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 shares during the period. Finally, Summit Financial Strategies Inc. grew its holdings in shares of NIKE by 3.8% in the second quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker’s stock valued at $303,000 after purchasing an additional 155 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NKE shares. Needham & Company LLC reiterated a “buy” rating and set a $78.00 target price on shares of NIKE in a report on Wednesday. Robert W. Baird lifted their target price on NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, June 27th. Deutsche Bank Aktiengesellschaft lowered their target price on NIKE from $77.00 to $71.00 and set a “buy” rating for the company in a research note on Friday, June 20th. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and increased their price target for the company from $62.00 to $85.00 in a research report on Wednesday, September 10th. Finally, HSBC raised NIKE from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $81.57.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.80% of the company’s stock.

NIKE Stock Performance

Shares of NIKE stock opened at $72.01 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $84.76. The firm’s 50 day moving average is $74.62 and its two-hundred day moving average is $67.27. The firm has a market capitalization of $106.34 billion, a P/E ratio of 36.93, a P/E/G ratio of 2.65 and a beta of 1.29.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. The business had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 EPS. Research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. NIKE’s dividend payout ratio (DPR) is presently 82.05%.

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.