Copperwynd Financial LLC Purchases 2,053 Shares of NIKE, Inc. (NYSE:NKE)

Copperwynd Financial LLC boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 30.9% in the 2nd quarter, Holdings Channel reports. The firm owned 8,687 shares of the footwear maker’s stock after buying an additional 2,053 shares during the period. Copperwynd Financial LLC’s holdings in NIKE were worth $650,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 9258 Wealth Management LLC grew its position in NIKE by 23.9% in the fourth quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock valued at $474,000 after acquiring an additional 842 shares during the last quarter. Gryphon Financial Partners LLC grew its holdings in shares of NIKE by 34.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock valued at $1,259,000 after purchasing an additional 2,981 shares during the last quarter. Focus Financial Network Inc. ADV acquired a new position in NIKE during the 4th quarter worth approximately $729,000. Dorsey & Whitney Trust CO LLC increased its position in NIKE by 6.1% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,121 shares of the footwear maker’s stock worth $990,000 after purchasing an additional 522 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its stake in NIKE by 19.2% in the 4th quarter. Eagle Asset Management Inc. now owns 7,816 shares of the footwear maker’s stock valued at $849,000 after purchasing an additional 1,257 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Up 0.1 %

NKE stock opened at $89.44 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The stock’s 50 day simple moving average is $79.67 and its 200 day simple moving average is $86.67. The company has a market cap of $135.00 billion, a P/E ratio of 23.98, a price-to-earnings-growth ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $12.86 billion. During the same period last year, the business earned $0.66 EPS. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, research analysts expect that NIKE, Inc. will post 3.04 earnings per share for the current fiscal year.

NIKE Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Royal Bank of Canada upped their price target on shares of NIKE from $75.00 to $85.00 and gave the stock a “sector perform” rating in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on NIKE from $83.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, September 23rd. Guggenheim cut their price target on NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Evercore ISI upped their price objective on NIKE from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and lifted their target price for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.52.

Insider Activity

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE 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 transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

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.