Tandem Investment Advisors Inc. raised its position in shares of Nike, Inc. (NYSE:NKE) by 8.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 118,780 shares of the footwear maker’s stock after acquiring an additional 9,396 shares during the quarter. Nike comprises 2.8% of Tandem Investment Advisors Inc.’s investment portfolio, making the stock its 16th biggest holding. Tandem Investment Advisors Inc.’s holdings in Nike were worth $7,008,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Asset Planning Services Ltd. boosted its position in Nike by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after acquiring an additional 7 shares during the last quarter. Stearns Financial Services Group boosted its position in Nike by 0.4% during the second quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock valued at $245,000 after acquiring an additional 17 shares during the last quarter. Accredited Investors Inc. boosted its position in Nike by 0.5% during the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock valued at $232,000 after acquiring an additional 19 shares during the last quarter. Smith Shellnut Wilson LLC ADV boosted its position in Nike by 0.3% during the second quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock valued at $822,000 after acquiring an additional 41 shares during the last quarter. Finally, Buckingham Asset Management LLC boosted its position in Nike by 0.7% during the second quarter. Buckingham Asset Management LLC now owns 6,797 shares of the footwear maker’s stock valued at $401,000 after acquiring an additional 45 shares during the last quarter. 62.78% of the stock is currently owned by institutional investors and hedge funds.

Shares of Nike, Inc. (NKE) traded down $0.70 during midday trading on Thursday, reaching $59.72. 7,862,100 shares of the company traded hands, compared to its average volume of 9,579,083. Nike, Inc. has a twelve month low of $50.35 and a twelve month high of $61.21. The company has a market cap of $98,576.25, a PE ratio of 25.71, a price-to-earnings-growth ratio of 2.83 and a beta of 0.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 2.67.

Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. Nike had a net margin of 11.47% and a return on equity of 31.88%. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter last year, the firm earned $0.73 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. equities analysts predict that Nike, Inc. will post 2.28 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 4th will be given a $0.20 dividend. This is a boost from Nike’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.80 annualized dividend and a yield of 1.34%. Nike’s dividend payout ratio (DPR) is presently 34.04%.

A number of analysts have commented on the stock. HSBC cut shares of Nike from a “buy” rating to a “hold” rating and upped their price target for the company from $58.95 to $62.00 in a research report on Tuesday, November 28th. Robert W. Baird reaffirmed a “buy” rating and set a $65.00 price target on shares of Nike in a research report on Friday, November 17th. Vetr cut shares of Nike from a “buy” rating to a “hold” rating and set a $58.81 price objective on the stock. in a research report on Friday, November 17th. B. Riley reissued a “neutral” rating on shares of Nike in a research report on Wednesday, November 1st. Finally, Forward View raised shares of Nike from a “sell” rating to a “hold” rating in a research report on Sunday, October 29th. Three equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and nineteen have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $59.01.

In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total value of $7,429,050.00. Following the completion of the sale, the chairman now owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the completion of the sale, the director now owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.

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Nike Company Profile

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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