Headlands Technologies LLC Acquires New Holdings in NIKE, Inc. (NYSE:NKE)

Headlands Technologies LLC acquired a new stake in NIKE, Inc. (NYSE:NKE) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 23,007 shares of the footwear maker’s stock, valued at approximately $1,734,000.

A number of other large investors have also added to or reduced their stakes in the business. Beta Wealth Group Inc. raised its holdings in NIKE by 2.3% in the 4th quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock valued at $489,000 after buying an additional 101 shares during the last quarter. Kampmann Melissa S. raised its holdings in NIKE by 0.8% in the 4th quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock valued at $1,634,000 after buying an additional 115 shares during the last quarter. Ascent Wealth Partners LLC increased its position in NIKE by 0.4% during the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after purchasing an additional 115 shares during the period. Condor Capital Management increased its position in NIKE by 0.4% during the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after purchasing an additional 116 shares during the period. Finally, Bell Investment Advisors Inc increased its position in NIKE by 4.7% during the 4th quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock valued at $283,000 after purchasing an additional 118 shares during the period. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NKE. The Goldman Sachs Group decreased their target price on shares of NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and increased their target price for the company from $67.00 to $93.00 in a research report on Friday, August 16th. TD Cowen decreased their target price on shares of NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Evercore ISI decreased their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of NIKE from $115.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Fourteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.59.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was 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 in the company, valued at approximately $80,419,507.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was 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 in the company, valued at approximately $80,435,628. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

NIKE Stock Performance

NYSE NKE opened at $78.07 on Wednesday. The company has a fifty day simple moving average of $77.03 and a 200 day simple moving average of $88.19. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. 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 company has a market cap of $117.06 billion, a P/E ratio of 20.93, a PEG ratio of 2.11 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share 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 business had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same period last year, the business earned $0.66 EPS. The business’s revenue was down 1.6% on a year-over-year basis. Sell-side analysts predict that NIKE, Inc. will post 3.1 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.90%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

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.