Transcend Capital Advisors LLC Boosts Stake in NIKE, Inc. (NYSE:NKE)

Transcend Capital Advisors LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 48.0% during the first quarter, Holdings Channel.com reports. The fund owned 31,216 shares of the footwear maker’s stock after buying an additional 10,118 shares during the period. Transcend Capital Advisors LLC’s holdings in NIKE were worth $1,982,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Heck Capital Advisors LLC acquired a new stake in NIKE in the fourth quarter valued at approximately $28,000. LFA Lugano Financial Advisors SA boosted its holdings in NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after buying an additional 210 shares during the last quarter. Hopwood Financial Services Inc. acquired a new stake in NIKE in the 4th quarter worth about $30,000. EnRich Financial Partners LLC increased its stake in NIKE by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock worth $31,000 after buying an additional 273 shares in the last quarter. Finally, Roxbury Financial LLC raised its holdings in shares of NIKE by 52.1% during the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker’s stock valued at $37,000 after acquiring an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on NKE shares. China Renaissance initiated coverage on NIKE in a research note on Wednesday, March 19th. They issued a “hold” rating for the company. BMO Capital Markets dropped their price objective on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Cfra Research upgraded NIKE to a “moderate buy” rating in a research report on Friday, March 21st. Jefferies Financial Group reiterated a “buy” rating on shares of NIKE in a report on Friday, May 23rd. Finally, Barclays upped their price objective on shares of NIKE from $53.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $79.33.

NIKE Stock Performance

Shares of NIKE stock opened at $72.09 on Friday. The stock has a market capitalization of $106.63 billion, a price-to-earnings ratio of 33.38, a price-to-earnings-growth ratio of 2.29 and a beta of 1.21. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.19 and a quick ratio of 1.52. The business has a 50-day moving average of $60.63 and a 200 day moving average of $67.60.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.00%. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.99 EPS. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Monday, June 2nd. NIKE’s payout ratio is presently 53.16%.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan acquired 8,600 shares of the firm’s stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.

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.