NIKE, Inc. $NKE Shares Bought by Asset Dedication LLC

Asset Dedication LLC raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 172.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,728 shares of the footwear maker’s stock after acquiring an additional 18,807 shares during the quarter. Asset Dedication LLC’s holdings in NIKE were worth $2,112,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Mitchell Mcleod Pugh & Williams Inc. raised its position in NIKE by 1.0% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock worth $1,007,000 after acquiring an additional 134 shares in the last quarter. Main Street Financial Solutions LLC lifted its position in NIKE by 4.2% in the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after purchasing an additional 139 shares during the period. Caldwell Sutter Capital Inc. increased its position in shares of NIKE by 6.3% during the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock worth $170,000 after purchasing an additional 142 shares in the last quarter. Salomon & Ludwin LLC grew its holdings in NIKE by 10.1% during the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock worth $120,000 after acquiring an additional 145 shares during the last quarter. Finally, Westmount Partners LLC boosted its holdings in NIKE by 2.9% in the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock valued at $367,000 after acquiring an additional 146 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup cut NIKE from a “positive” rating to a “mixed” rating in a report on Friday. Morgan Stanley set a $72.00 price target on NIKE and gave the stock a “positive” rating in a report on Wednesday, October 1st. BTIG Research reiterated a “buy” rating and set a $100.00 price objective on shares of NIKE in a report on Friday. Wells Fargo & Company upgraded shares of NIKE from a “sector perform” rating to an “overweight” rating in a research note on Tuesday, December 2nd. Finally, TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and boosted their target price for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.10.

NIKE Trading Down 0.4%

Shares of NKE stock opened at $67.49 on Friday. The stock’s 50 day simple moving average is $65.40 and its two-hundred day simple moving average is $69.32. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The company has a market cap of $99.76 billion, a PE ratio of 34.61, a price-to-earnings-growth ratio of 2.37 and a beta of 1.29. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44.

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

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, December 1st. This is an increase from NIKE’s previous quarterly dividend of $0.40. NIKE’s dividend payout ratio (DPR) is currently 84.10%.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $64.80, for a total value of $5,577,854.40. Following the sale, the chairman directly owned 647,615 shares of the company’s stock, valued at approximately $41,965,452. The trade was a 11.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.80% of the stock is currently owned by insiders.

NIKE 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.