Agate Pass Investment Management LLC Raises Holdings in NIKE, Inc. (NYSE:NKE)

Agate Pass Investment Management LLC increased its position in NIKE, Inc. (NYSE:NKE) by 8.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 11,939 shares of the footwear maker’s stock after purchasing an additional 897 shares during the period. Agate Pass Investment Management LLC’s holdings in NIKE were worth $900,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. ZWJ Investment Counsel Inc. boosted its holdings in shares of NIKE by 4.0% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock valued at $282,000 after acquiring an additional 100 shares during the period. Kornitzer Capital Management Inc. KS boosted its stake in NIKE by 0.4% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock worth $2,776,000 after purchasing an additional 100 shares during the period. J.Safra Asset Management Corp grew its position in NIKE by 12.9% during the 4th quarter. J.Safra Asset Management Corp now owns 883 shares of the footwear maker’s stock worth $96,000 after purchasing an additional 101 shares during the last quarter. Beta Wealth Group Inc. increased 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 purchasing an additional 101 shares during the period. Finally, Kennon Green & Company LLC raised its holdings in shares of NIKE by 1.6% in the fourth quarter. Kennon Green & Company LLC now owns 6,765 shares of the footwear maker’s stock valued at $734,000 after buying an additional 107 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Robert Holmes Swan purchased 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated 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 sale, the chairman now directly 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. 0.50% of the stock is currently owned by insiders.

NIKE Price Performance

Shares of NYSE NKE traded up $3.86 during trading on Tuesday, reaching $78.50. The company had a trading volume of 22,039,318 shares, compared to its average volume of 11,457,865. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $118.48 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The stock has a 50-day moving average price of $81.34 and a two-hundred day moving average price of $91.40.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. As a group, sell-side analysts predict that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.89%. NIKE’s payout ratio is currently 39.68%.

Analyst Upgrades and Downgrades

Several research firms have commented on NKE. Wells Fargo & Company reduced their price objective on NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research note on Friday, June 28th. UBS Group restated a “neutral” rating and set a $78.00 price target on shares of NIKE in a research note on Friday, June 28th. Jefferies Financial Group lowered their price objective on shares of NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. Raymond James restated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $96.30.

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.