IFP Advisors Inc Acquires 8,716 Shares of NIKE, Inc. $NKE

IFP Advisors Inc increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 80.7% in the second quarter, Holdings Channel reports. The firm owned 19,520 shares of the footwear maker’s stock after buying an additional 8,716 shares during the quarter. IFP Advisors Inc’s holdings in NIKE were worth $1,387,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Stone House Investment Management LLC acquired a new position in shares of NIKE during the 1st quarter worth about $25,000. Mascoma Wealth Management LLC acquired a new position in NIKE during the second quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC grew its holdings in NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 362 shares during the period. Saudi Central Bank acquired a new stake in NIKE in the first quarter worth $30,000. Finally, Matrix Trust Co boosted its position in shares of NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after purchasing an additional 153 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In other news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the sale, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction on 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 transaction, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 200,378 shares of company stock worth $14,794,264. Company insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on NKE. KeyCorp set a $90.00 price objective on shares of NIKE and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Morgan Stanley set a $72.00 price target on NIKE and gave the stock a “positive” rating in a research report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft cut their price objective on NIKE from $77.00 to $71.00 and set a “buy” rating on the stock in a report on Friday, June 20th. Robert W. Baird increased their target price on NIKE from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, June 27th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of NIKE in a research note on Friday. Three analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.57.

NIKE Price Performance

Shares of NKE opened at $65.25 on Monday. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $84.76. The stock has a market capitalization of $96.45 billion, a P/E ratio of 33.46, a P/E/G ratio of 2.38 and a beta of 1.29. The company has a 50 day moving average of $73.80 and a 200-day moving average of $67.30.

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

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given 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 2.5%. NIKE’s payout ratio is 82.05%.

NIKE 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.