Fiduciary Group LLC Buys 2,895 Shares of NIKE, Inc. (NYSE:NKE)

Fiduciary Group LLC lifted its stake in NIKE, Inc. (NYSE:NKE) by 6.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 45,868 shares of the footwear maker’s stock after buying an additional 2,895 shares during the quarter. Fiduciary Group LLC’s holdings in NIKE were worth $3,457,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Annapolis Financial Services LLC lifted its holdings in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares during the period. True Wealth Design LLC raised its position in shares of NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of NIKE in the 4th quarter valued at approximately $33,000. Core Wealth Advisors Inc. lifted its stake in shares of NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the period. Finally, Gold Investment Management Ltd. purchased a new stake in NIKE in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 0.8 %

Shares of NKE stock opened at $79.01 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The stock has a fifty day simple moving average of $77.23 and a two-hundred day simple moving average of $87.88. The firm has a market capitalization of $118.46 billion, a PE ratio of 21.18, a PEG ratio of 2.08 and a beta of 1.02. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter last year, the business posted $0.66 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. On average, analysts predict that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.87%. NIKE’s payout ratio is 39.68%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

NKE has been the topic of a number of recent research reports. Bank of America reduced their target price on shares of NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Raymond James restated a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Stifel Nicolaus dropped their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of NIKE from $115.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Finally, The Goldman Sachs Group decreased their target price on shares of NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a report on Friday, June 28th. Fourteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $95.59.

NIKE 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.