NIKE, Inc. (NYSE:NKE) Shares Acquired by Drive Wealth Management LLC

Drive Wealth Management LLC lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 274.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,714 shares of the footwear maker’s stock after acquiring an additional 9,317 shares during the period. Drive Wealth Management LLC’s holdings in NIKE were worth $959,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Beta Wealth Group Inc. boosted its stake in NIKE by 2.3% in the fourth quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock valued at $489,000 after acquiring an additional 101 shares in the last quarter. Kampmann Melissa S. increased its holdings in shares of NIKE by 0.8% in the 4th quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock valued at $1,634,000 after acquiring an additional 115 shares during the period. Ascent Wealth Partners LLC raised its position 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 purchasing an additional 115 shares during the last quarter. Condor Capital Management increased its stake in NIKE by 0.4% in the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after purchasing an additional 116 shares during the period. Finally, Bell Investment Advisors Inc raised its holdings in shares of NIKE by 4.7% in the fourth quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock valued at $283,000 after buying an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 0.1 %

NYSE:NKE traded up $0.06 on Friday, hitting $83.32. 13,755,265 shares of the stock were exchanged, compared to its average volume of 11,371,491. The stock has a fifty day moving average of $77.91 and a 200-day moving average of $89.49. The stock has a market cap of $124.93 billion, a PE ratio of 22.34, a PEG ratio of 2.19 and a beta of 1.01. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same period in the previous year, the company posted $0.66 earnings per share. NIKE’s revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts expect that NIKE, Inc. will post 3.1 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of recent research reports. StockNews.com cut NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Bank of America lowered their price objective on NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Barclays cut NIKE from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $109.00 to $80.00 in a report on Friday, June 28th. Oppenheimer reissued an “outperform” rating and issued a $120.00 target price on shares of NIKE in a report on Friday, June 28th. Finally, Royal Bank of Canada lowered their price target on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 2nd. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $95.59.

Insider Activity

In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 value of $4,093,986.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Holmes Swan bought 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Insiders own 0.50% of the company’s stock.

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.