Griffin Asset Management Inc. Has $1.64 Million Holdings in NIKE, Inc. (NYSE:NKE)

Griffin Asset Management Inc. increased its holdings in NIKE, Inc. (NYSE:NKE) by 3.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,700 shares of the footwear maker’s stock after acquiring an additional 646 shares during the period. Griffin Asset Management Inc.’s holdings in NIKE were worth $1,636,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NKE. Cim LLC bought a new stake in NIKE in the 4th quarter worth about $14,275,000. TKG Advisors LLC bought a new position in shares of NIKE during the 4th quarter valued at approximately $1,012,000. Brown Advisory Inc. grew its position in shares of NIKE by 4.3% during the 4th quarter. Brown Advisory Inc. now owns 4,668,949 shares of the footwear maker’s stock valued at $506,908,000 after acquiring an additional 192,752 shares during the period. Missouri Trust & Investment Co grew its position in shares of NIKE by 11.3% during the 4th quarter. Missouri Trust & Investment Co now owns 11,492 shares of the footwear maker’s stock valued at $1,248,000 after acquiring an additional 1,167 shares during the period. Finally, Spartan Planning & Wealth Management bought a new position in shares of NIKE during the 4th quarter valued at approximately $182,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

NKE has been the subject of a number of research reports. Royal Bank of Canada reduced 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, July 2nd. BMO Capital Markets dropped their price target on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Barclays cut shares of NIKE from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $109.00 to $80.00 in a research note on Friday, June 28th. Telsey Advisory Group dropped their price target on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Finally, Raymond James restated a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.59.

Insider Buying and Selling at NIKE

In other news, Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other news, Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

NIKE Stock Performance

NKE traded down $0.59 during mid-day trading on Thursday, reaching $83.41. 8,482,773 shares of the company traded hands, compared to its average volume of 11,477,676. The stock has a market capitalization of $125.90 billion, a P/E ratio of 22.60, a P/E/G ratio of 1.92 and a beta of 1.01. 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 company’s fifty day moving average price is $79.47 and its 200-day moving average price is $90.47. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. NIKE’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 EPS. On average, sell-side analysts expect that NIKE, Inc. will post 3.12 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.77%. NIKE’s dividend payout ratio is presently 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.