Hardy Reed LLC Purchases 2,524 Shares of NIKE, Inc. $NKE

Hardy Reed LLC increased its holdings in NIKE, Inc. (NYSE:NKE) by 77.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,763 shares of the footwear maker’s stock after purchasing an additional 2,524 shares during the quarter. Hardy Reed LLC’s holdings in NIKE were worth $409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stone House Investment Management LLC purchased a new position in shares of NIKE during the first quarter valued at approximately $25,000. Mascoma Wealth Management LLC purchased a new stake in NIKE in the second quarter worth $26,000. Halbert Hargrove Global Advisors LLC boosted its holdings in NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 362 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of NIKE in the 1st quarter worth about $30,000. Finally, Matrix Trust Co boosted its stake in shares of NIKE by 53.1% during the 2nd 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. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

NKE has been the subject of a number of research reports. HSBC raised shares of NIKE from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research note on Friday, June 27th. Argus upgraded NIKE to a “buy” rating in a research note on Sunday, July 6th. Needham & Company LLC restated a “buy” rating and set a $78.00 price target on shares of NIKE in a research report on Wednesday, October 1st. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and upped their price target for the stock from $62.00 to $85.00 in a research note on Wednesday, September 10th. Finally, Evercore ISI dropped their target price on shares of NIKE from $97.00 to $75.00 and set an “outperform” rating on the stock in a report on Tuesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.57.

NIKE Price Performance

Shares of NYSE NKE opened at $71.25 on Tuesday. The firm has a market cap of $105.23 billion, a P/E ratio of 36.54, a PEG ratio of 2.64 and a beta of 1.29. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $84.76. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average of $74.46 and a 200 day moving average of $67.26.

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

NIKE Announces Dividend

The company 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. This represents a $1.60 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio is currently 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.