Stoneridge Investment Partners LLC Grows Stake in NIKE, Inc. (NYSE:NKE)

Stoneridge Investment Partners LLC lifted its stake in NIKE, Inc. (NYSE:NKE) by 11.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,280 shares of the footwear maker’s stock after purchasing an additional 5,409 shares during the quarter. NIKE accounts for approximately 1.5% of Stoneridge Investment Partners LLC’s holdings, making the stock its 20th biggest position. Stoneridge Investment Partners LLC’s holdings in NIKE were worth $4,091,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NKE. Fiduciary Group LLC lifted its position in NIKE by 6.7% during the second quarter. Fiduciary Group LLC now owns 45,868 shares of the footwear maker’s stock valued at $3,457,000 after purchasing an additional 2,895 shares during the period. Pinkerton Retirement Specialists LLC boosted its stake in shares of NIKE by 14.2% in the 2nd quarter. Pinkerton Retirement Specialists LLC now owns 16,999 shares of the footwear maker’s stock worth $1,281,000 after buying an additional 2,113 shares during the last quarter. GHP Investment Advisors Inc. grew its holdings in shares of NIKE by 6.9% in the second quarter. GHP Investment Advisors Inc. now owns 2,219 shares of the footwear maker’s stock worth $167,000 after acquiring an additional 143 shares during the period. Meeder Advisory Services Inc. lifted its holdings in NIKE by 21.2% in the second quarter. Meeder Advisory Services Inc. now owns 19,362 shares of the footwear maker’s stock valued at $1,459,000 after acquiring an additional 3,390 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of NIKE by 5.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 741,496 shares of the footwear maker’s stock valued at $59,486,000 after purchasing an additional 36,561 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NIKE stock opened at $79.01 on Friday. 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 quick ratio of 1.69 and a current ratio of 2.40. The company’s 50 day simple moving average is $77.23 and its 200-day simple moving average is $87.88. The company has a market capitalization of $118.46 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter last year, the firm posted $0.66 earnings per share. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities research analysts expect that NIKE, Inc. will post 3.06 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors 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 annualized dividend and a yield of 1.87%. NIKE’s payout ratio is 39.68%.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of recent research reports. Guggenheim decreased their target price on NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Evercore ISI cut their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Royal Bank of Canada decreased 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. Robert W. Baird reduced their target price on NIKE from $125.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on NIKE from $115.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Fourteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $95.59.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE 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 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 through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

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.