Delta Investment Management LLC Acquires 5,287 Shares of NIKE, Inc. (NYSE:NKE)

Delta Investment Management LLC lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 179.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,233 shares of the footwear maker’s stock after purchasing an additional 5,287 shares during the quarter. Delta Investment Management LLC’s holdings in NIKE were worth $621,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NKE. Annapolis Financial Services LLC increased its position in NIKE by 440.0% during 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 last quarter. True Wealth Design LLC increased its holdings 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 last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE in the fourth quarter worth $33,000. Core Wealth Advisors Inc. increased its stake in shares of NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares during the period. Finally, Gold Investment Management Ltd. acquired a new stake in shares of NIKE in the fourth quarter worth $36,000. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NKE shares. The Goldman Sachs Group dropped their price target on shares of NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, June 28th. UBS Group restated a “neutral” rating and issued a $78.00 target price on shares of NIKE in a research note on Friday, June 28th. Citigroup reduced their price target on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Bank of America restated a “buy” rating and issued a $104.00 price objective on shares of NIKE in a research report on Monday. Finally, HSBC dropped their target price on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.52.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The stock was bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 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 transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert Holmes Swan acquired 2,941 shares of the stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The disclosure for this purchase can be found here. Corporate insiders own 0.50% of the company’s stock.

NIKE Price Performance

NKE opened at $88.04 on Thursday. The stock has a market cap of $132.88 billion, a P/E ratio of 23.60, a P/E/G ratio of 2.30 and a beta of 1.02. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $78.70 and a 200 day simple moving average of $86.82.

NIKE (NYSE:NKE) last announced its quarterly 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 company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the prior year, the company earned $0.66 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, research analysts expect that NIKE, Inc. will post 3.04 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.68%. NIKE’s payout ratio is 39.68%.

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.