CCM Investment Advisers LLC Boosts Stake in NIKE, Inc. (NYSE:NKE)

CCM Investment Advisers LLC raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 6.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,577 shares of the footwear maker’s stock after purchasing an additional 6,772 shares during the period. NIKE accounts for about 2.0% of CCM Investment Advisers LLC’s portfolio, making the stock its 18th biggest position. CCM Investment Advisers LLC’s holdings in NIKE were worth $14,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. KB Financial Partners LLC purchased a new stake in NIKE during the first quarter valued at approximately $493,000. Chilton Capital Management LLC purchased a new stake in NIKE during the first quarter valued at approximately $136,000. Mercer Global Advisors Inc. ADV raised its position in NIKE by 4.8% during the first quarter. Mercer Global Advisors Inc. ADV now owns 301,327 shares of the footwear maker’s stock valued at $36,955,000 after purchasing an additional 13,887 shares during the period. Pacific Center for Financial Services purchased a new stake in NIKE during the first quarter valued at approximately $62,000. Finally, M Holdings Securities Inc. raised its position in NIKE by 2.7% during the first quarter. M Holdings Securities Inc. now owns 3,775 shares of the footwear maker’s stock valued at $463,000 after purchasing an additional 100 shares during the period. 63.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. UBS Group upped their price objective on NIKE from $145.00 to $150.00 in a research report on Friday, June 30th. Morgan Stanley cut their target price on NIKE from $130.00 to $127.00 and set an “overweight” rating on the stock in a research note on Sunday, July 2nd. VNET Group reaffirmed a “maintains” rating on shares of NIKE in a research note on Friday, June 30th. JPMorgan Chase & Co. cut their target price on NIKE from $152.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 28th. Finally, Robert W. Baird cut their target price on NIKE from $138.00 to $130.00 and set an “outperform” rating on the stock in a research note on Monday, July 3rd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $130.28.

NIKE Stock Down 0.5 %

Shares of NYSE NKE opened at $96.30 on Wednesday. NIKE, Inc. has a 12-month low of $82.22 and a 12-month high of $131.31. The stock’s fifty day simple moving average is $105.24 and its two-hundred day simple moving average is $113.14. The company has a current ratio of 2.72, a quick ratio of 1.81 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $147.34 billion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 1.73 and a beta of 1.12.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.66 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.02). NIKE had a net margin of 9.90% and a return on equity of 34.01%. The business had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.58 billion. During the same quarter in the prior year, the company posted $0.90 EPS. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts expect that NIKE, Inc. will post 3.71 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $1.36 annualized dividend and a dividend yield of 1.41%. NIKE’s dividend payout ratio is presently 42.11%.

Insider Activity

In other news, VP Johanna Nielsen sold 1,706 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $107.00, for a total transaction of $182,542.00. Following the completion of the sale, the vice president now owns 954 shares in the company, valued at approximately $102,078. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $108.58, for a total value of $11,943,800.00. Following the completion of the transaction, the chairman now owns 1,334,781 shares in the company, valued at approximately $144,930,520.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Johanna Nielsen sold 1,706 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $107.00, for a total value of $182,542.00. Following the completion of the transaction, the vice president now owns 954 shares of the company’s stock, valued at approximately $102,078. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,251 shares of company stock worth $17,063,257. Insiders own 0.50% of the company’s stock.

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.