Legacy Financial Strategies LLC Purchases Shares of 2,371 NIKE, Inc. (NYSE:NKE)

Legacy Financial Strategies LLC purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,371 shares of the footwear maker’s stock, valued at approximately $210,000.

Several other institutional investors have also added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its stake in shares of NIKE by 86.0% during the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after acquiring an additional 9,689 shares during the last quarter. FORA Capital LLC bought a new position in NIKE in the first quarter worth about $3,412,000. Cetera Advisors LLC raised its stake in NIKE by 85.5% in the first quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock worth $8,298,000 after buying an additional 40,704 shares in the last quarter. Koshinski Asset Management Inc. bought a new position in NIKE in the first quarter worth about $713,000. Finally, New Mexico Educational Retirement Board raised its stake in NIKE by 15.7% in the first quarter. New Mexico Educational Retirement Board now owns 74,248 shares of the footwear maker’s stock worth $6,978,000 after buying an additional 10,100 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NKE shares. Royal Bank of Canada decreased their price target on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 2nd. Robert W. Baird increased their price target on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Stifel Nicolaus decreased their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Oppenheimer reissued an “outperform” rating and issued a $120.00 price target on shares of NIKE in a research note on Friday, June 28th. Finally, Telsey Advisory Group decreased their target price on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $96.56.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred 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 approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by corporate insiders.

NIKE Price Performance

NKE stock traded down $0.48 during mid-day trading on Friday, hitting $82.92. The company had a trading volume of 7,214,787 shares, compared to its average volume of 11,701,926. The company has a 50-day moving average price of $82.64 and a 200 day moving average price of $85.32. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $125.16 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the firm posted $0.94 EPS. The firm’s revenue was down 10.4% compared to the same quarter last year. On average, research analysts anticipate that NIKE, Inc. will post 2.8 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

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.