Saratoga Research & Investment Management Grows Holdings in NIKE, Inc. (NYSE:NKE)

Saratoga Research & Investment Management increased its position in NIKE, Inc. (NYSE:NKE) by 20.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 745,639 shares of the footwear maker’s stock after acquiring an additional 124,621 shares during the period. NIKE makes up 2.6% of Saratoga Research & Investment Management’s portfolio, making the stock its 14th biggest position. Saratoga Research & Investment Management’s holdings in NIKE were worth $56,199,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Kampmann Melissa S. boosted its stake in NIKE by 9.8% during the 2nd quarter. Kampmann Melissa S. now owns 17,937 shares of the footwear maker’s stock valued at $1,352,000 after purchasing an additional 1,607 shares in the last quarter. Regal Investment Advisors LLC boosted its stake in NIKE by 7.1% in the 2nd quarter. Regal Investment Advisors LLC now owns 8,076 shares of the footwear maker’s stock worth $609,000 after purchasing an additional 535 shares during the period. Quarry LP increased its holdings in NIKE by 55.7% in the second quarter. Quarry LP now owns 1,517 shares of the footwear maker’s stock worth $114,000 after buying an additional 543 shares during the last quarter. Invst LLC grew its position in NIKE by 3.3% in the second quarter. Invst LLC now owns 18,004 shares of the footwear maker’s stock worth $1,383,000 after acquiring an additional 579 shares in the last quarter. Finally, Wallace Advisory Group LLC increased its position in NIKE by 44.8% during the second quarter. Wallace Advisory Group LLC now owns 5,539 shares of the footwear maker’s stock worth $417,000 after buying an additional 1,715 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NKE. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $92.00 price objective on shares of NIKE in a research note on Friday, September 20th. KeyCorp restated a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Royal Bank of Canada lifted their price objective on NIKE from $75.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 25th. BMO Capital Markets dropped their price target on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $100.00 target price on shares of NIKE in a research note on Friday, September 20th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $96.52.

NIKE Trading Up 0.1 %

Shares of NIKE stock opened at $89.44 on Monday. The stock has a market cap of $135.00 billion, a P/E ratio of 23.98, a P/E/G ratio of 2.30 and a beta of 1.02. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The business’s 50 day moving average is $79.67 and its 200-day moving average is $86.57.

NIKE (NYSE:NKE) last released 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. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm posted $0.66 earnings per share. Equities research analysts predict that NIKE, Inc. will post 3.04 earnings per share for the current fiscal year.

NIKE Dividend Announcement

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

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the business’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 completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $80,435,628. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

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.