NIKE, Inc. $NKE Shares Acquired by LRI Investments LLC

LRI Investments LLC lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 9.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,287 shares of the footwear maker’s stock after acquiring an additional 522 shares during the period. LRI Investments LLC’s holdings in NIKE were worth $447,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in NKE. Brighton Jones LLC boosted its position in shares of NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after buying an additional 160,980 shares during the period. GAMMA Investing LLC boosted its position in shares of NIKE by 39.1% during the first quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker’s stock worth $1,325,000 after buying an additional 5,863 shares during the period. Simon Quick Advisors LLC boosted its position in shares of NIKE by 21.0% during the first quarter. Simon Quick Advisors LLC now owns 3,986 shares of the footwear maker’s stock worth $253,000 after buying an additional 691 shares during the period. Everhart Financial Group Inc. acquired a new position in shares of NIKE during the first quarter worth approximately $229,000. Finally, Krilogy Financial LLC acquired a new position in shares of NIKE during the first quarter worth approximately $661,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NYSE:NKE opened at $65.25 on Monday. The company’s fifty day moving average is $73.80 and its two-hundred day moving average is $67.30. 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, Inc. has a 12-month low of $52.28 and a 12-month high of $84.76. The company has a market cap of $96.45 billion, a P/E ratio of 33.46, a price-to-earnings-growth ratio of 2.38 and a beta of 1.29.

NIKE (NYSE:NKE) last announced its 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 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 the consensus estimate of $10.96 billion. During the same period in the previous year, the business earned $0.70 EPS. The company’s revenue was up 1.0% on a year-over-year basis. Equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s payout ratio is 82.05%.

Insider Buying and Selling at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. The trade was a 12.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 86,078 shares of the business’s 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 approximately $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,378 shares of company stock worth $14,794,264. Company insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NKE shares. TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. KeyCorp set a $90.00 target price on NIKE and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Sanford C. Bernstein restated a “buy” rating and issued a $90.00 target price on shares of NIKE in a research report on Wednesday, October 1st. Zacks Research upgraded NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Finally, JPMorgan Chase & Co. upped their target price on NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating 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 given a Hold rating to the company’s stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $81.57.

About NIKE

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.