Liberty Wealth Management LLC Raises Stock Position in NIKE, Inc. (NYSE:NKE)

Liberty Wealth Management LLC grew its position in NIKE, Inc. (NYSE:NKE) by 38.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,972 shares of the footwear maker’s stock after buying an additional 1,384 shares during the period. Liberty Wealth Management LLC’s holdings in NIKE were worth $375,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. 9258 Wealth Management LLC lifted its stake in shares of NIKE by 23.9% in the 4th quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock valued at $474,000 after purchasing an additional 842 shares during the last quarter. Gryphon Financial Partners LLC lifted its position in NIKE by 34.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock valued at $1,259,000 after buying an additional 2,981 shares during the last quarter. Principal Securities Inc. acquired a new position in NIKE in the fourth quarter valued at about $886,000. Cary Street Partners Investment Advisory LLC boosted its stake in NIKE by 29.3% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 10,318 shares of the footwear maker’s stock worth $1,120,000 after buying an additional 2,338 shares during the period. Finally, Dana Investment Advisors Inc. increased its position in shares of NIKE by 4.8% during the fourth quarter. Dana Investment Advisors Inc. now owns 8,490 shares of the footwear maker’s stock valued at $922,000 after acquiring an additional 386 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NIKE from $115.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Oppenheimer restated an “outperform” rating and set a $120.00 price target on shares of NIKE in a research report on Friday, June 28th. Wedbush cut their price objective on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. StockNews.com lowered NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Finally, Evercore ISI dropped their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Fourteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average price target of $95.59.

NIKE Price Performance

Shares of NYSE:NKE opened at $79.50 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The firm has a market capitalization of $119.20 billion, a P/E ratio of 21.31, a P/E/G ratio of 2.11 and a beta of 1.02. The company’s fifty day moving average price is $76.99 and its 200 day moving average price is $88.38.

NIKE (NYSE:NKE) last announced its 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 analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. As a group, sell-side analysts predict that NIKE, Inc. will post 3.1 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.86%. NIKE’s payout ratio is 39.68%.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is owned by 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.