Kavar Capital Partners Group LLC Grows Stock Holdings in NIKE, Inc. (NYSE:NKE)

Kavar Capital Partners Group LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 4.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 57,340 shares of the footwear maker’s stock after acquiring an additional 2,463 shares during the period. Kavar Capital Partners Group LLC’s holdings in NIKE were worth $5,069,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NKE. Annapolis Financial Services LLC boosted 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 purchasing an additional 220 shares in the last quarter. Transcendent Capital Group LLC boosted its holdings in NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 200 shares in the last quarter. VitalStone Financial LLC boosted its holdings in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC boosted its holdings in NIKE by 272.5% in the 2nd 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 in the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in NIKE in the 2nd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity

In other news, Chairman Mark G. Parker sold 52,487 shares of the business’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 $80,435,628. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Stifel Nicolaus reduced their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. UBS Group lifted their price target on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and lifted their price target for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Finally, Royal Bank of Canada reduced their price target on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $96.56.

NIKE Stock Down 0.2 %

NKE stock opened at $78.85 on Friday. The stock has a market capitalization of $118.22 billion, a P/E ratio of 22.59, a PEG ratio of 1.95 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a 50 day moving average price of $82.71 and a two-hundred day moving average price of $84.94.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the company earned $0.94 EPS. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. As a group, sell-side analysts expect that NIKE, Inc. will post 2.78 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.88%. NIKE’s dividend payout ratio is presently 42.41%.

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.