HCR Wealth Advisors Has $590,000 Stake in NIKE, Inc. $NKE

HCR Wealth Advisors boosted its holdings in NIKE, Inc. (NYSE:NKE) by 4.3% in the second quarter, Holdings Channel reports. The firm owned 8,299 shares of the footwear maker’s stock after purchasing an additional 340 shares during the quarter. HCR Wealth Advisors’ holdings in NIKE were worth $590,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Stone House Investment Management LLC acquired a new position in shares of NIKE during the 1st quarter worth about $25,000. Saudi Central Bank bought a new position in NIKE in the first quarter valued at approximately $30,000. Matrix Trust Co grew its stake in 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 in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of NIKE during the 2nd quarter worth approximately $35,000. Finally, Roxbury Financial LLC raised its stake in shares of NIKE by 52.1% during the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker’s stock worth $37,000 after purchasing an additional 201 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of NIKE from $64.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 23rd. Needham & Company LLC lifted their price objective on shares of NIKE from $66.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, June 27th. Bank of America upped their target price on shares of NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a report on Friday, June 27th. TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and lifted their price target for the stock from $62.00 to $85.00 in a report on Wednesday, September 10th. Finally, Barclays boosted their price target on NIKE from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 18th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.62.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the sale, the chairman owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.80% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE opened at $69.57 on Tuesday. The business has a fifty day moving average price of $74.90 and a two-hundred day moving average price of $67.25. The stock has a market capitalization of $102.75 billion, a PE ratio of 32.21, a P/E/G ratio of 2.53 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $89.75.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is currently 74.07%.

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.