Blue Trust Inc. Acquires 7,437 Shares of NIKE, Inc. (NYSE:NKE)

Blue Trust Inc. grew its position in NIKE, Inc. (NYSE:NKE) by 164.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 11,955 shares of the footwear maker’s stock after purchasing an additional 7,437 shares during the period. Blue Trust Inc.’s holdings in NIKE were worth $1,057,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of NKE. International Assets Investment Management LLC grew its holdings in NIKE by 36.8% in the first quarter. International Assets Investment Management LLC now owns 4,890 shares of the footwear maker’s stock worth $453,000 after purchasing an additional 1,315 shares during the last quarter. Global Assets Advisory LLC purchased a new position in NIKE in the first quarter worth $9,586,000. Financial Synergies Wealth Advisors Inc. grew its holdings in NIKE by 64.4% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 480 shares of the footwear maker’s stock worth $45,000 after purchasing an additional 188 shares during the last quarter. Austin Private Wealth LLC purchased a new position in NIKE in the first quarter worth $231,000. Finally, Strong Tower Advisory Services grew its holdings in NIKE by 7.4% in the first quarter. Strong Tower Advisory Services now owns 12,313 shares of the footwear maker’s stock worth $1,140,000 after purchasing an additional 853 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Morgan Stanley boosted their price objective on shares of NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Stifel Nicolaus dropped their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Finally, Raymond James reissued a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $96.56.

NIKE Stock Down 0.6 %

NKE opened at $82.92 on Monday. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average price of $82.64 and a 200 day moving average price of $85.24. The company has a market cap of $125.16 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. Sell-side analysts expect that NIKE, Inc. will post 2.8 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.78%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the 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 in the company, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by insiders.

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.