Colonial River Wealth Management LLC Makes New $228,000 Investment in NIKE, Inc. (NYSE:NKE)

Colonial River Wealth Management LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKE) in the second quarter, HoldingsChannel reports. The fund purchased 1,479 shares of the footwear maker’s stock, valued at approximately $228,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FFT Wealth Management LLC acquired a new stake in shares of NIKE in the 2nd quarter valued at approximately $26,000. Princeton Global Asset Management LLC boosted its holdings in shares of NIKE by 39.8% in the 2nd quarter. Princeton Global Asset Management LLC now owns 246 shares of the footwear maker’s stock valued at $38,000 after buying an additional 70 shares during the last quarter. Rockbridge Investment Management LCC boosted its holdings in shares of NIKE by 43.9% in the 2nd quarter. Rockbridge Investment Management LCC now owns 246 shares of the footwear maker’s stock valued at $38,000 after buying an additional 75 shares during the last quarter. Financial Insights Inc. acquired a new stake in shares of NIKE in the 2nd quarter valued at approximately $38,000. Finally, Baldrige Asset Management LLC acquired a new stake in shares of NIKE in the 2nd quarter valued at approximately $41,000. 64.45% of the stock is owned by institutional investors.

In other news, CFO Matthew Friend sold 3,546 shares of NIKE stock in a transaction dated Thursday, August 5th. The stock was sold at an average price of $171.50, for a total transaction of $608,139.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Andrew Campion sold 7,125 shares of NIKE stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $171.50, for a total value of $1,221,937.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,671 shares of company stock worth $11,230,087. Company insiders own 3.70% of the company’s stock.

NKE has been the subject of several research reports. Telsey Advisory Group cut their price target on NIKE from $180.00 to $176.00 and set an “outperform” rating for the company in a report on Friday, September 24th. Robert W. Baird raised their price target on NIKE from $150.00 to $192.00 and gave the company an “outperform” rating in a report on Friday, June 25th. Credit Suisse Group set a $183.00 price target on NIKE in a report on Wednesday, September 22nd. Royal Bank of Canada raised their price target on NIKE from $165.00 to $183.00 and gave the company an “outperform” rating in a report on Friday, June 25th. Finally, DZ Bank reaffirmed a “sell” rating on shares of NIKE in a report on Friday, June 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $174.94.

Shares of NYSE NKE traded up $0.50 during mid-day trading on Thursday, reaching $156.80. The company had a trading volume of 106,445 shares, compared to its average volume of 6,575,932. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.01 and a current ratio of 2.72. NIKE, Inc. has a one year low of $118.80 and a one year high of $174.38. The firm has a market cap of $248.03 billion, a price-to-earnings ratio of 43.90, a PEG ratio of 2.49 and a beta of 0.87. The business’s 50-day simple moving average is $160.78 and its 200 day simple moving average is $148.68.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Wednesday, September 22nd. The footwear maker reported $1.16 EPS for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.04. NIKE had a return on equity of 51.41% and a net margin of 12.86%. The company had revenue of $12.25 billion for the quarter, compared to analysts’ expectations of $12.47 billion. During the same quarter last year, the business earned $0.95 earnings per share. NIKE’s revenue was up 15.6% on a year-over-year basis. On average, sell-side analysts anticipate that NIKE, Inc. will post 4.3 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 1st. Shareholders of record on Monday, August 30th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Friday, August 27th. NIKE’s dividend payout ratio is presently 30.90%.

NIKE Profile

NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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