MV Capital Management Inc. Purchases 3,959 Shares of NIKE, Inc. (NYSE:NKE)

MV Capital Management Inc. grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 17.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,405 shares of the footwear maker’s stock after buying an additional 3,959 shares during the period. MV Capital Management Inc.’s holdings in NIKE were worth $2,482,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Cim LLC purchased a new stake in shares of NIKE in the fourth quarter worth $14,275,000. TKG Advisors LLC purchased a new stake in shares of NIKE during the fourth quarter valued at approximately $1,012,000. Louisiana State Employees Retirement System bought a new stake in shares of NIKE during the fourth quarter valued at approximately $8,034,000. Financial Gravity Asset Management Inc. increased its position in shares of NIKE by 2,332.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock valued at $17,598,000 after acquiring an additional 176,476 shares in the last quarter. Finally, Brown Advisory Inc. raised its holdings in NIKE by 4.3% in the 4th quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock worth $506,908,000 after acquiring an additional 192,752 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 1.0 %

Shares of NIKE stock traded down $0.79 during trading on Tuesday, hitting $76.04. The stock had a trading volume of 26,139,314 shares, compared to its average volume of 10,698,846. NIKE, Inc. has a 12 month low of $74.29 and a 12 month high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The firm’s fifty day simple moving average is $92.94 and its 200-day simple moving average is $98.54. The stock has a market cap of $114.77 billion, a PE ratio of 20.38, a PEG ratio of 1.43 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period last year, the company earned $0.66 EPS. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, sell-side analysts expect that NIKE, Inc. will post 3.9 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 1.95%. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insiders Place Their Bets

In related news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The shares were acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now owns 730 shares of the company’s stock, valued at $68,357.20. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 in the last ninety days. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NKE. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a report on Friday. Royal Bank of Canada cut their target price on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a research report on Tuesday. Citigroup decreased their target price on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research note on Friday. Oppenheimer restated an “outperform” rating and issued a $120.00 price target on shares of NIKE in a research note on Friday. Finally, Telsey Advisory Group reduced their price objective on NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $98.04.

NIKE 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.