LRI Investments LLC Acquires New Position in NIKE, Inc. (NYSE:NKE)

LRI Investments LLC bought a new position in shares of NIKE, Inc. (NYSE:NKE) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,374 shares of the footwear maker’s stock, valued at approximately $129,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Virtu Financial LLC increased its holdings in NIKE by 7.1% during the 1st quarter. Virtu Financial LLC now owns 60,714 shares of the footwear maker’s stock valued at $5,706,000 after acquiring an additional 4,000 shares in the last quarter. Strategic Wealth Partners Ltd. increased its stake in shares of NIKE by 2,255.3% during the 1st quarter. Strategic Wealth Partners Ltd. now owns 52,453 shares of the footwear maker’s stock worth $4,929,000 after purchasing an additional 50,226 shares in the last quarter. Cim LLC raised its position in shares of NIKE by 0.8% during the 1st quarter. Cim LLC now owns 136,945 shares of the footwear maker’s stock worth $12,870,000 after purchasing an additional 1,101 shares during the last quarter. Wahed Invest LLC lifted its stake in NIKE by 13.6% in the 1st quarter. Wahed Invest LLC now owns 23,085 shares of the footwear maker’s stock valued at $2,170,000 after buying an additional 2,769 shares in the last quarter. Finally, Citizens Financial Group Inc. RI increased its position in NIKE by 3.8% during the first quarter. Citizens Financial Group Inc. RI now owns 72,846 shares of the footwear maker’s stock worth $6,851,000 after buying an additional 2,692 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. BMO Capital Markets dropped their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Morgan Stanley reiterated an “equal weight” rating and issued a $79.00 price target (down from $114.00) on shares of NIKE in a report on Friday, June 28th. Barclays downgraded NIKE from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $109.00 to $80.00 in a research report on Friday, June 28th. TD Cowen lowered their price target on NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $83.00 price objective (down from $116.00) on shares of NIKE in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $96.30.

NIKE Stock Up 0.2 %

NIKE stock opened at $74.01 on Friday. The firm has a market capitalization of $111.71 billion, a P/E ratio of 19.84, a P/E/G ratio of 1.92 and a beta of 1.01. The company has a 50-day simple moving average of $83.71 and a 200-day simple moving average of $92.69. NIKE, Inc. has a one year low of $70.91 and a one year high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities analysts expect that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Insiders sold 323,660 shares of company stock valued at $27,973,033 over the last 90 days. 0.50% of the stock is currently owned by company insiders.

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.