OneDigital Investment Advisors LLC Boosts Stock Holdings in NIKE, Inc. $NKE

OneDigital Investment Advisors LLC grew its holdings in NIKE, Inc. (NYSE:NKE) by 32.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 244,296 shares of the footwear maker’s stock after buying an additional 60,375 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in NIKE were worth $10,028,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Scarborough Advisors LLC acquired a new position in NIKE during the first quarter worth about $25,000. Cornerstone Financial Management LLC acquired a new position in shares of NIKE in the fourth quarter valued at approximately $26,000. Sankala Group LLC purchased a new position in shares of NIKE during the fourth quarter valued at approximately $26,000. Meeder Asset Management Inc. boosted its position in NIKE by 108.4% during the first quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock worth $29,000 after acquiring an additional 285 shares during the last quarter. Finally, J.Safra Asset Management Corp acquired a new stake in NIKE during the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 0.0%

NYSE:NKE opened at $40.73 on Monday. The firm has a market capitalization of $60.42 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 1.81 and a beta of 1.11. The stock has a 50 day moving average of $42.90 and a 200-day moving average of $48.61. NIKE, Inc. has a 52 week low of $40.00 and a 52 week high of $80.17. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. During the same quarter last year, the business posted $0.14 EPS. The business’s revenue was down 1.1% on a year-over-year basis. Analysts predict that NIKE, Inc. will post 1.74 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 1st. NIKE’s dividend payout ratio (DPR) is 78.47%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Citigroup reiterated a “neutral” rating on shares of NIKE in a research note on Wednesday, July 22nd. Oppenheimer lowered their price target on NIKE from $120.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, June 26th. Jefferies Financial Group cut their price objective on NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of NIKE in a research note on Thursday, June 4th. Finally, Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, NIKE has a consensus rating of “Hold” and an average price target of $53.53.

Insider Activity

In other NIKE news, COO Venkatesh Alagirisamy sold 890 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total transaction of $37,024.00. Following the completion of the transaction, the chief operating officer directly owned 74,820 shares of the company’s stock, valued at $3,112,512. The trade was a 1.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amy Montagne sold 4,867 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $42.05, for a total transaction of $204,657.35. Following the completion of the transaction, the insider owned 57,436 shares of the company’s stock, valued at approximately $2,415,183.80. This trade represents a 7.81% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 26,142 shares of company stock valued at $1,169,380. 1.10% of the stock is owned by company insiders.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).