TRH Financial LLC bought a new position in shares of NIKE, Inc. (NYSE:NKE) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,771 shares of the footwear maker’s stock, valued at approximately $222,000.
Several other hedge funds have also bought and sold shares of NKE. Clarius Group LLC boosted its stake in NIKE by 0.8% in the 3rd quarter. Clarius Group LLC now owns 11,031 shares of the footwear maker’s stock valued at $1,385,000 after purchasing an additional 84 shares during the period. Glassman Wealth Services boosted its stake in NIKE by 6.6% in the 2nd quarter. Glassman Wealth Services now owns 1,626 shares of the footwear maker’s stock valued at $159,000 after purchasing an additional 100 shares during the period. Adirondack Trust Co. boosted its stake in NIKE by 1.9% in the 2nd quarter. Adirondack Trust Co. now owns 5,320 shares of the footwear maker’s stock valued at $519,000 after purchasing an additional 100 shares during the period. Capital Analysts LLC boosted its stake in NIKE by 8.0% in the 2nd quarter. Capital Analysts LLC now owns 1,410 shares of the footwear maker’s stock valued at $138,000 after purchasing an additional 104 shares during the period. Finally, Lafayette Investments Inc. boosted its stake in NIKE by 1.1% in the 2nd quarter. Lafayette Investments Inc. now owns 10,067 shares of the footwear maker’s stock valued at $987,000 after purchasing an additional 108 shares during the period. 64.20% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on NKE. Credit Suisse Group set a $154.00 price target on NIKE and gave the company an “outperform” rating in a research note on Wednesday, September 23rd. Stifel Nicolaus upped their target price on NIKE from $140.00 to $154.00 and gave the company a “buy” rating in a research report on Wednesday, September 23rd. Wedbush upped their target price on NIKE from $127.00 to $142.00 and gave the company an “outperform” rating in a research report on Wednesday, September 23rd. JPMorgan Chase & Co. upped their target price on NIKE from $136.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, September 23rd. Finally, 140166 upped their target price on NIKE from $150.00 to $160.00 and gave the company a “positive” rating in a research report on Wednesday, September 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. NIKE presently has an average rating of “Buy” and a consensus target price of $137.03.
Shares of NKE stock opened at $128.00 on Friday. NIKE, Inc. has a 1-year low of $60.00 and a 1-year high of $131.34. The company has a current ratio of 2.55, a quick ratio of 1.77 and a debt-to-equity ratio of 1.02. The stock has a 50-day moving average of $120.42 and a 200-day moving average of $101.42. The stock has a market cap of $199.67 billion, a price-to-earnings ratio of 76.65, a PEG ratio of 2.80 and a beta of 0.80.
NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 22nd. The footwear maker reported $0.95 EPS for the quarter, beating the consensus estimate of $0.46 by $0.49. NIKE had a return on equity of 34.62% and a net margin of 7.20%. The company had revenue of $10.59 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the prior year, the company earned $0.27 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Sell-side analysts forecast that NIKE, Inc. will post 2.78 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, August 31st were given a dividend of $0.245 per share. The ex-dividend date was Friday, August 28th. This represents a $0.98 annualized dividend and a dividend yield of 0.77%. NIKE’s payout ratio is 52.97%.
In related news, COO Andrew Campion sold 56,313 shares of the company’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $98.56, for a total transaction of $5,550,209.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Heidi O’neill sold 10,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $105.00, for a total value of $1,050,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 841,962 shares of company stock worth $103,292,012. 3.80% of the stock is owned by corporate insiders.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
Read More: How to execute a trade ex-dividend strategy?
Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE).
Receive News & Ratings for NIKE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NIKE and related companies with MarketBeat.com's FREE daily email newsletter.