NIKE, Inc. $NKE Shares Acquired by Stratos Wealth Advisors LLC

Stratos Wealth Advisors LLC increased its stake in NIKE, Inc. (NYSE:NKE) by 10.1% during the 2nd quarter, Holdings Channel reports. The fund owned 7,193 shares of the footwear maker’s stock after purchasing an additional 657 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in NIKE were worth $511,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NKE. Stone House Investment Management LLC acquired a new stake in NIKE in the first quarter valued at $25,000. Mascoma Wealth Management LLC acquired a new stake in NIKE in the second quarter valued at $26,000. Halbert Hargrove Global Advisors LLC raised its stake 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 buying an additional 362 shares in the last quarter. Saudi Central Bank acquired a new stake in NIKE in the first quarter valued at $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 buying an additional 153 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NKE stock opened at $67.46 on Monday. The stock’s 50-day moving average is $73.10 and its two-hundred day moving average is $67.48. The firm has a market cap of $99.72 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 2.48 and a beta of 1.29. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $83.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19.

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, topping analysts’ consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter last year, the company posted $0.70 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. Analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.4%. NIKE’s dividend payout ratio (DPR) is currently 82.05%.

Insider Transactions at NIKE

In related 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 transaction, the chairman owned 744,988 shares of the company’s stock, valued at $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s 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 transaction, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NKE shares. KeyCorp set a $90.00 price target on NIKE and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Barclays set a $70.00 price target on NIKE and gave the company a “positive” rating in a research note on Wednesday, October 1st. TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and raised their price target for the company from $62.00 to $85.00 in a research note on Wednesday, September 10th. UBS Group set a $71.00 price target on NIKE and gave the company a “neutral” rating in a research note on Friday, September 19th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $115.00 price objective on shares of NIKE in a report on Monday, September 29th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

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.