Old Port Advisors Grows Holdings in NIKE, Inc. (NYSE:NKE)

Old Port Advisors grew its stake in NIKE, Inc. (NYSE:NKEGet Rating) by 11.7% during the first quarter, Holdings Channel.com reports. The fund owned 1,582 shares of the footwear maker’s stock after acquiring an additional 166 shares during the period. Old Port Advisors’ holdings in NIKE were worth $211,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NKE. Retirement Planning Co of New England Inc. purchased a new stake in NIKE during the 4th quarter worth approximately $26,000. Aquire Wealth Advisors LLC purchased a new stake in NIKE during the 4th quarter worth approximately $26,000. Horan Securities Inc. purchased a new stake in NIKE during the 4th quarter worth approximately $29,000. Sycomore Asset Management purchased a new stake in NIKE during the 4th quarter worth approximately $31,000. Finally, Alpha Paradigm Partners LLC purchased a new stake in NIKE during the 4th quarter worth approximately $31,000. 65.35% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:NKE opened at $104.92 on Thursday. The stock has a market cap of $165.12 billion, a P/E ratio of 27.68, a P/E/G ratio of 1.74 and a beta of 0.96. The firm has a fifty day moving average price of $117.72 and a 200 day moving average price of $135.48. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.06 and a quick ratio of 2.18. NIKE, Inc. has a 1-year low of $103.46 and a 1-year high of $179.10.

NIKE (NYSE:NKEGet Rating) last issued its quarterly earnings results on Monday, March 21st. The footwear maker reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.14. The firm had revenue of $10.90 billion during the quarter, compared to analysts’ expectations of $10.61 billion. NIKE had a net margin of 13.06% and a return on equity of 43.04%. NIKE’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. Sell-side analysts expect that NIKE, Inc. will post 3.68 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Monday, June 6th will be paid a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Friday, June 3rd. NIKE’s dividend payout ratio is currently 32.19%.

Several brokerages recently weighed in on NKE. KGI Securities downgraded shares of NIKE from an “outperform” rating to a “neutral” rating in a research note on Monday, May 23rd. Guggenheim dropped their price objective on shares of NIKE from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Monday, June 13th. Jefferies Financial Group dropped their price objective on shares of NIKE from $200.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, March 16th. Credit Suisse Group set a $165.00 price objective on shares of NIKE in a research report on Friday, April 29th. Finally, UBS Group dropped their price objective on shares of NIKE from $173.00 to $168.00 and set a “buy” rating on the stock in a research report on Wednesday, June 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $160.62.

In other news, COO Andrew Campion sold 14,203 shares of the firm’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $120.61, for a total value of $1,713,023.83. Following the completion of the sale, the chief operating officer now owns 73,795 shares in the company, valued at approximately $8,900,414.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew Friend sold 9,032 shares of the firm’s stock in a transaction on Monday, June 13th. The stock was sold at an average price of $110.52, for a total transaction of $998,216.64. Following the completion of the sale, the chief financial officer now owns 51,581 shares of the company’s stock, valued at approximately $5,700,732.12. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

About NIKE (Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.

See Also

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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