MBB Public Markets I LLC Buys 81,898 Shares of NIKE, Inc. (NYSE:NKE)

MBB Public Markets I LLC boosted its stake in NIKE, Inc. (NYSE:NKE) by 2,986.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 84,640 shares of the footwear maker’s stock after acquiring an additional 81,898 shares during the quarter. MBB Public Markets I LLC’s holdings in NIKE were worth $6,379,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP acquired a new stake in shares of NIKE during the 2nd quarter valued at $333,000. Daymark Wealth Partners LLC boosted its stake in shares of NIKE by 1.7% during the second quarter. Daymark Wealth Partners LLC now owns 111,561 shares of the footwear maker’s stock valued at $8,408,000 after purchasing an additional 1,896 shares in the last quarter. Delta Investment Management LLC boosted its stake in shares of NIKE by 179.5% during the second quarter. Delta Investment Management LLC now owns 8,233 shares of the footwear maker’s stock valued at $621,000 after purchasing an additional 5,287 shares in the last quarter. DoubleLine ETF Adviser LP acquired a new position in shares of NIKE in the second quarter valued at approximately $2,454,000. Finally, EDENTREE ASSET MANAGEMENT Ltd raised its holdings in NIKE by 7.6% in the 2nd quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 132,074 shares of the footwear maker’s stock valued at $9,953,000 after buying an additional 9,350 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE opened at $89.43 on Friday. The business’s fifty day moving average is $79.67 and its 200 day moving average is $86.77. 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 stock has a market cap of $134.98 billion, a P/E ratio of 23.98, a P/E/G ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same period last year, the company earned $0.66 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. Sell-side analysts anticipate that NIKE, Inc. will post 3.04 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE 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 transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s 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 of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NKE. Evercore ISI upped their price target on shares of NIKE from $105.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Morgan Stanley increased their price objective on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday. HSBC cut their target price on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Jefferies Financial Group decreased their price target on NIKE from $90.00 to $80.00 in a research note on Friday, July 12th. Finally, Barclays upped their target price on NIKE from $80.00 to $84.00 and gave the company an “equal weight” rating in a report on Wednesday, September 18th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $96.52.

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.