Northern Financial Advisors Inc Takes $1.22 Million Position in NIKE, Inc. $NKE

Northern Financial Advisors Inc purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 17,216 shares of the footwear maker’s stock, valued at approximately $1,223,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of NKE. Brighton Jones LLC raised its holdings in NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after buying an additional 160,980 shares during the period. Merit Financial Group LLC raised its holdings in NIKE by 26.2% in the 1st quarter. Merit Financial Group LLC now owns 10,526 shares of the footwear maker’s stock valued at $668,000 after buying an additional 2,187 shares during the period. Park Avenue Securities LLC raised its holdings in NIKE by 12.1% in the 1st quarter. Park Avenue Securities LLC now owns 16,705 shares of the footwear maker’s stock valued at $1,060,000 after buying an additional 1,806 shares during the period. Moss Adams Wealth Advisors LLC raised its holdings in NIKE by 9.2% in the 1st quarter. Moss Adams Wealth Advisors LLC now owns 5,656 shares of the footwear maker’s stock valued at $361,000 after buying an additional 476 shares during the period. Finally, Portside Wealth Group LLC raised its holdings in NIKE by 8.7% in the 1st quarter. Portside Wealth Group LLC now owns 14,438 shares of the footwear maker’s stock valued at $917,000 after buying an additional 1,154 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Down 3.0%

NKE stock opened at $69.03 on Wednesday. The company’s 50 day moving average price is $74.28 and its 200 day moving average price is $67.28. 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, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $84.76. The firm has a market capitalization of $101.95 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 2.61 and a beta of 1.29.

NIKE (NYSE:NKE) last released 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. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same period in the prior year, the firm earned $0.70 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts anticipate 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 paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio is presently 82.05%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NKE. Stifel Nicolaus set a $68.00 price objective on shares of NIKE and gave the company a “hold” rating in a report on Wednesday, October 1st. Royal Bank Of Canada upgraded shares of NIKE from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $76.00 to $90.00 in a report on Thursday, September 18th. TD Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their price target for the stock from $62.00 to $85.00 in a research note on Wednesday, September 10th. Hsbc Global Res upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 27th. Finally, Barclays set a $70.00 price target on shares of NIKE and gave the stock a “positive” rating in a research note on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $81.57.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction that occurred 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 sale, the chairman directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president owned 29,396 shares in the company, valued at $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. Insiders have sold 200,378 shares of company stock worth $14,794,264 over the last 90 days. 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.