626 Financial LLC Invests $331,000 in NIKE, Inc. $NKE

626 Financial LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKE) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 4,666 shares of the footwear maker’s stock, valued at approximately $331,000.

Other institutional investors also recently modified their holdings of the company. Mascoma Wealth Management LLC acquired a new stake in shares of NIKE during the 2nd quarter worth approximately $26,000. Stone House Investment Management LLC acquired a new stake in shares of NIKE during the 1st quarter worth approximately $25,000. Halbert Hargrove Global Advisors LLC grew its position in shares of NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after buying an additional 362 shares during the period. Matrix Trust Co grew its position in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after buying an additional 153 shares during the period. Finally, Saudi Central Bank acquired a new position in NIKE during the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $71.25 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $84.76. The firm’s 50 day moving average price is $74.46 and its two-hundred day moving average price is $67.26. The firm has a market cap of $105.23 billion, a P/E ratio of 36.54, a PEG ratio of 2.64 and a beta of 1.29.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the previous year, the firm posted $0.70 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis. On average, analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. NIKE’s payout ratio is presently 82.05%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NKE. Argus upgraded shares of NIKE to a “buy” rating in a report on Sunday, July 6th. Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, September 10th. Robert W. Baird boosted their price objective on shares of NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, June 27th. Zacks Research upgraded shares of NIKE from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of NIKE in a report on Saturday, September 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.57.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.80% of the company’s stock.

NIKE Company Profile

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.