Wealthfront Advisers LLC Has $8.76 Million Stock Holdings in NIKE, Inc. $NKE

Wealthfront Advisers LLC grew its position in NIKE, Inc. (NYSE:NKE) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 123,321 shares of the footwear maker’s stock after purchasing an additional 5,921 shares during the period. Wealthfront Advisers LLC’s holdings in NIKE were worth $8,761,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Stone House Investment Management LLC acquired a new stake in NIKE in the first quarter worth $25,000. Mascoma Wealth Management LLC acquired a new stake in NIKE in the second quarter worth $26,000. Halbert Hargrove Global Advisors LLC raised its holdings in NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares during the period. Saudi Central Bank acquired a new stake in NIKE in the first quarter worth $30,000. Finally, Matrix Trust Co raised its holdings in NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after purchasing an additional 153 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. TD Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating and raised their price objective for the stock from $62.00 to $85.00 in a report on Wednesday, September 10th. Royal Bank Of Canada restated an “outperform” rating on shares of NIKE in a report on Friday, October 10th. KeyCorp set a $90.00 price objective on shares of NIKE and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Telsey Advisory Group restated a “market perform” rating and set a $75.00 price objective on shares of NIKE in a report on Wednesday, October 1st. Finally, Morgan Stanley set a $72.00 price objective on shares of NIKE and gave the stock a “positive” rating in a report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $82.21.

NIKE Stock Performance

Shares of NKE opened at $68.51 on Tuesday. The firm has a 50-day moving average of $72.20 and a 200-day moving average of $68.01. NIKE, Inc. has a one year low of $52.28 and a one year high of $82.44. The company has a market cap of $101.26 billion, a PE ratio of 35.13, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating 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 company had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter last year, the firm posted $0.70 EPS. The company’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is 82.05%.

Insider Transactions at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This trade represents a 12.76% decrease in their position. The sale 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 NIKE 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 of the company’s stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. 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.