Summit Place Financial Advisors LLC Increases Stock Holdings in NIKE, Inc. $NKE

Summit Place Financial Advisors LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 7.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,915 shares of the footwear maker’s stock after buying an additional 2,485 shares during the period. Summit Place Financial Advisors LLC’s holdings in NIKE were worth $2,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NKE. Stone House Investment Management LLC purchased a new position in shares of NIKE during the 1st quarter valued at approximately $25,000. Mascoma Wealth Management LLC acquired a new position in NIKE in the 2nd quarter valued at $26,000. Halbert Hargrove Global Advisors LLC raised its stake in NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 362 shares during the last quarter. Saudi Central Bank acquired a new position in NIKE in the 1st quarter valued at $30,000. Finally, Matrix Trust Co raised its stake in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 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. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and increased their price objective for the company from $62.00 to $85.00 in a research note on Wednesday, September 10th. DZ Bank raised NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, October 1st. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. The Goldman Sachs Group set a $85.00 price objective on NIKE and gave the company a “buy” rating in a research note on Thursday, September 25th. Finally, JPMorgan Chase & Co. increased their price objective on NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $81.57.

NIKE Stock Down 4.1%

Shares of NKE opened at $65.25 on Friday. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $84.76. The company has a market capitalization of $96.45 billion, a PE ratio of 33.46, a price-to-earnings-growth ratio of 2.48 and a beta of 1.29. The stock has a fifty day simple moving average of $73.80 and a two-hundred day simple moving average of $67.28. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the company earned $0.70 EPS. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.5%. NIKE’s dividend payout ratio is currently 82.05%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction 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 completion of the transaction, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 200,378 shares of company stock valued at $14,794,264. Company insiders own 0.80% of the company’s stock.

NIKE 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.