MADDEN SECURITIES Corp Increases Holdings in NIKE, Inc. (NYSE:NKE)

MADDEN SECURITIES Corp grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 10.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,426 shares of the footwear maker’s stock after buying an additional 2,450 shares during the period. MADDEN SECURITIES Corp’s holdings in NIKE were worth $1,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Annapolis Financial Services LLC raised its stake in NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the last quarter. True Wealth Design LLC increased its position in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE in the 4th quarter worth approximately $33,000. Core Wealth Advisors Inc. grew its holdings in shares of NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 241 shares during the period. Finally, Gold Investment Management Ltd. acquired a new stake in shares of NIKE in the 4th quarter worth approximately $36,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Robert W. Baird lowered 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. Bank of America cut their target price on NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Jefferies Financial Group lowered their price target on NIKE from $90.00 to $80.00 in a report on Friday, July 12th. Stifel Nicolaus reiterated a “hold” rating and issued a $88.00 price target (down from $117.00) on shares of NIKE in a report on Friday, June 28th. Finally, Deutsche Bank Aktiengesellschaft lowered 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. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $96.30.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction dated 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 transaction, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

NIKE Trading Up 2.1 %

NIKE stock traded up $1.56 during trading hours on Thursday, reaching $74.18. 8,823,423 shares of the company’s stock were exchanged, compared to its average volume of 11,444,607. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The firm’s 50 day simple moving average is $82.15 and its 200 day simple moving average is $91.90. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The firm has a market capitalization of $111.96 billion, a PE ratio of 19.89, a PEG ratio of 1.92 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its earnings results 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 return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same period last year, the business posted $0.66 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. Research analysts predict that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 2.00%. NIKE’s payout ratio is currently 39.68%.

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.