NIKE, Inc. $NKE Shares Purchased by Breakwater Capital Group

Breakwater Capital Group grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 4.8% during the second quarter, HoldingsChannel reports. The firm owned 3,873 shares of the footwear maker’s stock after buying an additional 177 shares during the period. Breakwater Capital Group’s holdings in NIKE were worth $275,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Westmount Partners LLC increased its stake 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 purchasing an additional 146 shares in the last quarter. RB Capital Management LLC increased its position in shares of NIKE by 0.4% during the second quarter. RB Capital Management LLC now owns 46,327 shares of the footwear maker’s stock worth $3,291,000 after acquiring an additional 171 shares in the last quarter. Peregrine Asset Advisers Inc. increased its position in shares of NIKE by 1.2% during the first quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker’s stock worth $934,000 after acquiring an additional 181 shares in the last quarter. Aaron Wealth Advisors LLC increased its position in shares of NIKE by 4.3% during the first quarter. Aaron Wealth Advisors LLC now owns 4,666 shares of the footwear maker’s stock worth $296,000 after acquiring an additional 192 shares in the last quarter. Finally, Crew Capital Management Ltd. increased its position in shares of NIKE by 1.4% during the first quarter. Crew Capital Management Ltd. now owns 13,752 shares of the footwear maker’s stock worth $873,000 after acquiring an additional 192 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the topic of several analyst reports. Argus upgraded shares of NIKE to a “buy” rating in a report on Sunday, July 6th. Needham & Company LLC boosted their target price on shares of NIKE from $66.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, June 27th. Sanford C. Bernstein restated an “outperform” rating on shares of NIKE in a research note on Monday, August 18th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $70.00 target price on shares of NIKE in a report on Friday, June 27th. Finally, Hsbc Global Res raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a report on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $78.89.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman owned 744,988 shares of the company’s stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.80% of the stock is currently owned by company insiders.

NIKE Stock Performance

Shares of NIKE stock opened at $72.30 on Thursday. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $106.78 billion, a P/E ratio of 33.47, a PEG ratio of 2.64 and a beta of 1.24. The company has a 50 day moving average price of $75.27 and a 200 day moving average price of $67.66.

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

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders 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 2.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE’s payout ratio is 74.07%.

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.