Leelyn Smith LLC Has $3.38 Million Stock Holdings in NIKE, Inc. $NKE

Leelyn Smith LLC boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 8.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,542 shares of the footwear maker’s stock after acquiring an additional 3,606 shares during the quarter. Leelyn Smith LLC’s holdings in NIKE were worth $3,377,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Stone House Investment Management LLC acquired a new position in NIKE during the 1st quarter worth approximately $25,000. Mascoma Wealth Management LLC bought a new position in NIKE during the 2nd quarter worth $26,000. Halbert Hargrove Global Advisors LLC increased its position in NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after buying an additional 362 shares during the period. Saudi Central Bank acquired a new position in NIKE in the first quarter valued at about $30,000. Finally, Matrix Trust Co raised 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. 64.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NKE. Bank of America lifted their price target on NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, June 27th. Sanford C. Bernstein restated a “buy” rating and set a $90.00 price objective on shares of NIKE in a report on Monday, October 13th. BTIG Research started coverage on NIKE in a report on Tuesday, October 14th. They set a “buy” rating and a $100.00 price target for the company. Jefferies Financial Group reissued a “buy” rating and issued a $115.00 price objective on shares of NIKE in a research report on Monday, September 29th. Finally, JPMorgan Chase & Co. upped their price target on NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

NIKE Stock Down 0.8%

NKE stock opened at $69.15 on Friday. The firm has a market cap of $102.22 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 2.57 and a beta of 1.29. The business has a 50 day moving average of $72.38 and a 200 day moving average of $67.78. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44. 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 (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. NIKE’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio is currently 82.05%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction dated 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 sale, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction dated 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 in the company, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

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.