Excalibur Management Corp Increases Holdings in NIKE, Inc. (NYSE:NKE)

Excalibur Management Corp raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 12.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,099 shares of the footwear maker’s stock after buying an additional 801 shares during the period. Excalibur Management Corp’s holdings in NIKE were worth $535,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NKE. Annapolis Financial Services LLC raised its stake in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares during the last quarter. True Wealth Design LLC grew its position in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares during the period. Frank Rimerman Advisors LLC bought a new stake in shares of NIKE during the 4th quarter valued at $33,000. Core Wealth Advisors Inc. grew its position in shares of NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after acquiring an additional 241 shares during the period. Finally, Gold Investment Management Ltd. bought a new stake in shares of NIKE during the 4th quarter valued at $36,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Up 1.0 %

Shares of NYSE NKE opened at $79.82 on Tuesday. The firm’s 50-day moving average price is $77.36 and its 200-day moving average price is $87.47. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $120.48 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 2.08 and a beta of 1.02. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39.

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 the consensus estimate of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 EPS. On average, equities research analysts anticipate that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE Announces Dividend

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 given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio is 39.68%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Raymond James reissued a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. UBS Group reissued a “neutral” rating and set a $78.00 price objective on shares of NIKE in a research report on Friday, June 28th. Wedbush cut their price objective on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Finally, Royal Bank of Canada dropped their target price on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a report on Tuesday, July 2nd. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.59.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Robert Holmes Swan acquired 2,941 shares of NIKE stock in a transaction that occurred 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 directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated 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 in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate 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.