Financial Network Wealth Advisors LLC Grows Stake in NIKE, Inc. (NYSE:NKE)

Financial Network Wealth Advisors LLC raised its stake in NIKE, Inc. (NYSE:NKE) by 51.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 936 shares of the footwear maker’s stock after acquiring an additional 319 shares during the period. Financial Network Wealth Advisors LLC’s holdings in NIKE were worth $59,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of NKE. Stone House Investment Management LLC purchased a new stake in shares of NIKE in the first quarter worth $25,000. Heck Capital Advisors LLC purchased a new stake in shares of NIKE in the fourth quarter worth $28,000. Roxbury Financial LLC boosted its position 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 buying an additional 201 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of NIKE during the first quarter valued at $37,000. Finally, Putney Financial Group LLC purchased a new stake in shares of NIKE during the fourth quarter valued at $40,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Citigroup increased their price objective on NIKE from $57.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, June 27th. Argus raised NIKE to a “buy” rating in a research report on Sunday, July 6th. Hsbc Global Res raised NIKE from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 27th. Royal Bank Of Canada dropped their price objective on NIKE from $66.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 20th. Finally, Evercore ISI dropped their price objective on NIKE from $97.00 to $75.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $78.22.

NIKE Stock Up 3.2%

Shares of NKE opened at $77.28 on Thursday. The business’s 50 day moving average is $70.49 and its 200 day moving average is $67.67. The company has a market capitalization of $114.13 billion, a PE ratio of 35.78, a price-to-earnings-growth ratio of 2.72 and a beta of 1.27. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the company earned $0.99 EPS. Research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is 74.07%.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the sale, the chairman owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.80% 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.