TriaGen Wealth Management LLC Makes New $246,000 Investment in NIKE, Inc. $NKE

TriaGen Wealth Management LLC bought a new position in shares of NIKE, Inc. (NYSE:NKE) during the second quarter, HoldingsChannel.com reports. The firm bought 3,458 shares of the footwear maker’s stock, valued at approximately $246,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NKE. Stone House Investment Management LLC acquired a new position in shares of NIKE during the 1st quarter worth approximately $25,000. Mascoma Wealth Management LLC bought a new stake in shares of NIKE during the 2nd quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC lifted its holdings in shares of 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 acquiring an additional 362 shares during the period. Saudi Central Bank bought a new stake in shares of NIKE during the 1st quarter worth approximately $30,000. Finally, Matrix Trust Co lifted its holdings in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after acquiring an additional 153 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Transactions at NIKE

In other NIKE 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 value of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares in the company, 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 can be accessed through this link. Company insiders own 0.80% of the company’s stock.

NIKE Trading Down 0.9%

Shares of NYSE NKE opened at $71.25 on Tuesday. 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 52-week low of $52.28 and a 52-week high of $84.76. The firm has a 50 day moving average price of $74.46 and a two-hundred day moving average price of $67.26. The stock has a market cap of $105.23 billion, a P/E ratio of 36.54, a price-to-earnings-growth ratio of 2.64 and a beta of 1.29.

NIKE (NYSE:NKE) last announced 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 net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same period in the prior year, the company posted $0.70 EPS. The company’s revenue was up 1.0% on a year-over-year basis. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.2%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio is 82.05%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NKE shares. Evercore ISI cut their price target on shares of NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a report on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft cut their price target on shares of NIKE from $77.00 to $71.00 and set a “buy” rating for the company in a report on Friday, June 20th. Morgan Stanley set a $72.00 price target on shares of NIKE and gave the stock a “positive” rating in a report on Wednesday, October 1st. Bank of America upped their price target on shares of NIKE from $80.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, June 27th. Finally, Robert W. Baird increased their price objective on shares of NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, June 27th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.