Linscomb Wealth Inc. Grows Stock Holdings in NIKE, Inc. $NKE

Linscomb Wealth Inc. boosted its position in NIKE, Inc. (NYSE:NKE) by 4.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 83,635 shares of the footwear maker’s stock after acquiring an additional 3,248 shares during the period. Linscomb Wealth Inc.’s holdings in NIKE were worth $5,941,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Stone House Investment Management LLC purchased a new stake in NIKE in the 1st quarter worth approximately $25,000. Mascoma Wealth Management LLC purchased a new stake in NIKE in the 2nd quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC grew 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 worth $28,000 after acquiring an additional 362 shares during the period. Saudi Central Bank purchased a new stake in NIKE in the 1st quarter worth approximately $30,000. Finally, Matrix Trust Co grew its stake in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after acquiring an additional 153 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NYSE:NKE opened at $64.90 on Friday. The company has a market cap of $95.93 billion, a P/E ratio of 33.28, a PEG ratio of 2.41 and a beta of 1.29. 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 one year low of $52.28 and a one year high of $82.44. The business’s 50-day simple moving average is $71.57 and its 200 day simple moving average is $68.15.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. The business had revenue of $11.72 billion for 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 was up 1.0% on a year-over-year basis. During the same period last year, the business posted $0.70 EPS. On average, sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is presently 82.05%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $90.00 target price on shares of NIKE in a research note on Monday, October 13th. Telsey Advisory Group reissued a “market perform” rating and set a $75.00 price objective on shares of NIKE in a research note on Wednesday, October 1st. Citigroup raised shares of NIKE from a “neutral” rating to a “positive” rating in a research note on Friday, September 19th. TD Cowen raised shares of NIKE from a “hold” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $85.00 in a research note on Wednesday, September 10th. Finally, Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average price target of $82.21.

Insider Activity

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