NIKE, Inc. $NKE Shares Acquired by Diligent Investors LLC

Diligent Investors LLC raised its holdings in NIKE, Inc. (NYSE:NKE) by 40.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,663 shares of the footwear maker’s stock after buying an additional 1,904 shares during the period. Diligent Investors LLC’s holdings in NIKE were worth $473,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NKE. Stone House Investment Management LLC purchased a new stake in shares of NIKE in the 1st quarter valued at about $25,000. Halbert Hargrove Global Advisors LLC grew its position in NIKE by 952.6% in the 2nd 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 during the last quarter. Saudi Central Bank purchased a new stake in shares of NIKE in the first quarter valued at about $30,000. Matrix Trust Co boosted its holdings in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 shares in the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of NIKE in the 2nd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Hsbc Global Res raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a report on Friday, June 27th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of NIKE from $77.00 to $71.00 and set a “buy” rating on the stock in a research note on Friday, June 20th. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the company from $62.00 to $85.00 in a research report on Wednesday, September 10th. Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Finally, Jefferies Financial Group restated a “buy” rating and set a $115.00 price target on shares of NIKE in a research note on Monday, September 29th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.57.

NIKE Stock Performance

NIKE stock opened at $72.01 on Friday. The stock has a market cap of $106.34 billion, a P/E ratio of 36.93, a price-to-earnings-growth ratio of 2.65 and a beta of 1.29. The company has a current ratio of 2.19, a quick ratio of 1.50 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $84.76. The stock has a 50 day moving average of $74.62 and a 200-day moving average of $67.27.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 EPS. On average, analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

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

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated 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 transaction, the chairman owned 842,361 shares of the company’s stock, valued at $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.80% of the stock is owned by corporate insiders.

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.