Carret Asset Management LLC Boosts Holdings in NIKE, Inc. $NKE

Carret Asset Management LLC grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 14.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,900 shares of the footwear maker’s stock after buying an additional 500 shares during the quarter. Carret Asset Management LLC’s holdings in NIKE were worth $277,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mascoma Wealth Management LLC purchased a new stake in shares of NIKE during the 2nd quarter valued at $26,000. Stone House Investment Management LLC purchased a new stake in shares of NIKE during the 1st quarter valued at $25,000. Halbert Hargrove Global Advisors LLC raised 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 valued at $28,000 after buying an additional 362 shares in the last quarter. Matrix Trust Co raised 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 valued at $31,000 after buying an additional 153 shares in the last quarter. Finally, Saudi Central Bank purchased a new stake in shares of NIKE during the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. KeyCorp set a $90.00 target price on shares of NIKE and gave the company an “overweight” rating in a report on Thursday, October 2nd. Citigroup raised shares of NIKE from a “neutral” rating to a “positive” rating in a report on Friday, September 19th. Cowen raised shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, September 10th. Finally, Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.21.

NIKE Price Performance

Shares of NIKE stock opened at $64.90 on Friday. The firm has a market cap of $95.93 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The company’s fifty day simple moving average is $71.57 and its two-hundred day simple moving average is $68.15.

NIKE (NYSE:NKE) last announced its quarterly 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 for the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 EPS. As a group, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

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

Insiders Place Their Bets

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the sale, the executive vice president owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This trade represents a 12.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.80% of the stock is owned by company insiders.

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.