Tectonic Advisors LLC Acquires 1,727 Shares of NIKE, Inc. (NYSE:NKE)

Tectonic Advisors LLC lifted its holdings in NIKE, Inc. (NYSE:NKE) by 26.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,250 shares of the footwear maker’s stock after acquiring an additional 1,727 shares during the period. Tectonic Advisors LLC’s holdings in NIKE were worth $775,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. VisionPoint Advisory Group LLC grew its stake in shares of NIKE by 229.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 609 shares of the footwear maker’s stock valued at $58,000 after buying an additional 424 shares during the period. Raleigh Capital Management Inc. boosted its stake in shares of NIKE by 134.2% in the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after buying an additional 216 shares during the last quarter. Anchor Investment Management LLC purchased a new position in shares of NIKE in the 4th quarter worth approximately $219,000. Symmetry Partners LLC boosted its stake in shares of NIKE by 66.3% in the 4th quarter. Symmetry Partners LLC now owns 5,163 shares of the footwear maker’s stock worth $562,000 after buying an additional 2,059 shares during the last quarter. Finally, M&R Capital Management Inc. boosted its stake in shares of NIKE by 45.0% in the 4th quarter. M&R Capital Management Inc. now owns 805 shares of the footwear maker’s stock worth $87,000 after buying an additional 250 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on NKE. Oppenheimer restated an “outperform” rating and set a $120.00 price target on shares of NIKE in a research report on Friday, June 28th. Royal Bank of Canada cut their price target on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 2nd. Wells Fargo & Company cut their price target on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. Citigroup cut their price target on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Finally, UBS Group reaffirmed a “neutral” rating and set a $78.00 price objective on shares of NIKE in a research note on Friday, June 28th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NIKE has an average rating of “Hold” and a consensus target price of $96.44.

NIKE Trading Up 0.0 %

NKE traded up $0.03 on Friday, hitting $73.42. The company had a trading volume of 14,527,522 shares, compared to its average volume of 21,321,846. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The company has a market cap of $110.82 billion, a PE ratio of 19.68, a PEG ratio of 1.88 and a beta of 1.01. The business’s fifty day simple moving average is $89.52 and its 200 day simple moving average is $95.99. NIKE, Inc. has a 12-month low of $71.67 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. Equities research analysts expect that NIKE, Inc. will post 3.17 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were issued a $0.37 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.02%. NIKE’s payout ratio is 39.68%.

Insider Activity at NIKE

In related news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the transaction, the vice president now owns 730 shares of the company’s stock, valued at $68,357.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 213,660 shares of company stock worth $19,946,333. Company insiders own 0.50% 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.