Kimelman & Baird LLC Takes Position in NIKE, Inc. (NYSE:NKE)

Kimelman & Baird LLC acquired a new position in NIKE, Inc. (NYSE:NKE) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 191,963 shares of the footwear maker’s stock, valued at approximately $14,468,000. NIKE accounts for approximately 1.2% of Kimelman & Baird LLC’s investment portfolio, making the stock its 28th biggest position.

Several other institutional investors have also recently added to or reduced their stakes in NKE. Annapolis Financial Services LLC increased its position 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 period. True Wealth Design LLC grew its holdings in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of NIKE in the fourth quarter valued at approximately $33,000. Core Wealth Advisors Inc. lifted 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 buying an additional 241 shares during the last quarter. Finally, Pineridge Advisors LLC bought a new stake in shares of NIKE during the 4th quarter worth $38,000. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 0.1 %

Shares of NKE opened at $89.44 on Monday. The firm has a market capitalization of $135.00 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 2.30 and a beta of 1.02. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The business’s fifty day moving average price is $79.67 and its two-hundred day moving average price is $86.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share 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 firm had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same period in the previous year, the business posted $0.66 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, analysts predict that NIKE, Inc. will post 3.04 earnings per share for the current year.

NIKE Dividend Announcement

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

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on 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 directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of NIKE 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 transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the subject of a number of research analyst reports. Guggenheim cut their target price on shares of NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Wells Fargo & Company increased their target price on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Evercore ISI lifted their price target on NIKE from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. TD Cowen dropped their target price on shares of NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a research report on Thursday, July 25th. Finally, Raymond James restated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $96.52.

NIKE 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.