Penn Davis Mcfarland Inc. Purchases New Shares in NIKE, Inc. (NYSE:NKE)

Penn Davis Mcfarland Inc. purchased a new stake in NIKE, Inc. (NYSE:NKE) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 62,022 shares of the footwear maker’s stock, valued at approximately $5,483,000.

Several other institutional investors have also added to or reduced their stakes in the company. Ascent Wealth Partners LLC raised its holdings in NIKE by 0.4% in the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after acquiring an additional 115 shares in the last quarter. Condor Capital Management raised its holdings in NIKE by 0.4% in the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after acquiring an additional 116 shares in the last quarter. Lodestone Wealth Management LLC raised its holdings in NIKE by 5.5% in the 1st quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock valued at $211,000 after acquiring an additional 118 shares in the last quarter. Nvwm LLC raised its holdings in NIKE by 1.0% in the 1st quarter. Nvwm LLC now owns 11,568 shares of the footwear maker’s stock valued at $1,091,000 after acquiring an additional 120 shares in the last quarter. Finally, Stephens Consulting LLC raised its holdings in NIKE by 20.0% in the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after acquiring an additional 128 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on NKE. BMO Capital Markets dropped their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Evercore ISI dropped their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Citigroup lowered their price target on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a report on Friday, June 28th. Stifel Nicolaus lowered their price target on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Finally, Royal Bank of Canada lowered their price target on NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 52,487 shares of the 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 directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

NIKE Stock Down 0.6 %

Shares of NIKE stock opened at $82.92 on Monday. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The stock’s 50-day moving average is $82.64 and its 200 day moving average is $85.24. The firm has a market cap of $125.16 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 EPS. Equities research analysts anticipate that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.78%. NIKE’s payout ratio is currently 39.68%.

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.