Stonegate Investment Group LLC Boosts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Stonegate Investment Group LLC increased its position in shares of NIKE, Inc. (NYSE:NKE) by 4,792.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 565,830 shares of the footwear maker’s stock after purchasing an additional 554,264 shares during the quarter. Stonegate Investment Group LLC’s holdings in NIKE were worth $50,019,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Annapolis Financial Services LLC raised its holdings in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the last quarter. Transcendent Capital Group LLC boosted its stake in NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after buying an additional 200 shares during the last quarter. VitalStone Financial LLC raised its holdings in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares during the period. Financial Synergies Wealth Advisors Inc. boosted its position in shares of NIKE by 64.4% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 480 shares of the footwear maker’s stock valued at $45,000 after acquiring an additional 188 shares during the last quarter. Finally, Bruce G. Allen Investments LLC grew its holdings in shares of NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on NKE. StockNews.com cut shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Robert W. Baird upped their target price on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Morgan Stanley lifted their price target on shares of NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. BMO Capital Markets lowered their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Finally, Wedbush cut their target price on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average target price of $96.56.

NIKE Trading Down 0.3 %

NKE stock traded down $0.22 during midday trading on Friday, hitting $83.18. The stock had a trading volume of 1,269,552 shares, compared to its average volume of 11,672,533. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The firm has a market cap of $125.55 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The company’s 50-day moving average price is $82.46 and its 200 day moving average price is $85.38. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same period in the prior year, the firm posted $0.94 earnings per share. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, equities research analysts predict that NIKE, Inc. will post 2.8 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.