Wallace Advisory Group LLC Buys 1,715 Shares of NIKE, Inc. (NYSE:NKE)

Wallace Advisory Group LLC increased its stake in NIKE, Inc. (NYSE:NKE) by 44.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,539 shares of the footwear maker’s stock after purchasing an additional 1,715 shares during the quarter. Wallace Advisory Group LLC’s holdings in NIKE were worth $417,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of NIKE by 0.5% in the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after buying an additional 501,792 shares during the period. Capital International Investors raised its stake in NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after acquiring an additional 7,143,775 shares during the period. Price T Rowe Associates Inc. MD raised its stake in NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after acquiring an additional 7,996,434 shares during the period. Legal & General Group Plc boosted its position in NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after purchasing an additional 571,544 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of NIKE by 2.2% in the fourth quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock worth $1,072,676,000 after purchasing an additional 211,360 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated 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 completion of 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the firm’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 in the company, valued at approximately $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 research firms have recently issued reports on NKE. Bank of America reissued a “buy” rating and issued a $104.00 price target on shares of NIKE in a research report on Monday, September 23rd. Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and lifted their price target for the company from $67.00 to $93.00 in a research report on Friday, August 16th. TD Cowen dropped their price objective on NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.52.

NIKE Stock Up 0.1 %

Shares of NKE opened at $89.44 on Monday. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The stock has a 50 day simple moving average of $79.67 and a two-hundred day simple moving average of $86.57. The firm 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.

NIKE (NYSE:NKE) last announced 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 net margin of 11.10% and a return on equity of 42.63%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. On average, analysts forecast 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. Stockholders 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 dividend yield of 1.65%. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

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.