Eagle Strategies LLC Makes New $203,000 Investment in NIKE, Inc. $NKE

Eagle Strategies LLC acquired a new position in NIKE, Inc. (NYSE:NKE) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,861 shares of the footwear maker’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds have also bought and sold shares of NKE. Stone House Investment Management LLC bought a new position in shares of NIKE during the first quarter valued at approximately $25,000. Mascoma Wealth Management LLC bought a new position in shares of NIKE during the second quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC increased its stake in shares of 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 in the last quarter. Saudi Central Bank bought a new position in shares of NIKE during the first quarter valued at approximately $30,000. Finally, Matrix Trust Co increased its stake in shares of NIKE by 53.1% during 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 in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Weiss Ratings raised shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Morgan Stanley set a $72.00 target price on shares of NIKE and gave the company a “positive” rating in a research note on Wednesday, October 1st. Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Royal Bank Of Canada raised shares of NIKE from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $76.00 to $90.00 in a research report on Thursday, September 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $78.00 price target on shares of NIKE in a research report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock currently 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 on Thursday, August 14th. The shares were 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 $56,566,938.84. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 200,378 shares of company stock worth $14,794,264 in the last 90 days. 0.80% of the stock is currently owned by corporate insiders.

NIKE Trading Down 1.4%

Shares of NKE stock opened at $68.09 on Friday. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $84.76. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average is $73.99 and its 200 day moving average is $67.29. The stock has a market capitalization of $100.56 billion, a P/E ratio of 34.92, a P/E/G ratio of 2.52 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, topping the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter last year, the company posted $0.70 earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. Research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a $0.40 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.3%. NIKE’s dividend payout ratio (DPR) is currently 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.