Main Street Financial Solutions LLC Raises Holdings in NIKE, Inc. (NYSE:NKE)

Main Street Financial Solutions LLC grew its position in shares of NIKE, Inc. (NYSE:NKE) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,269 shares of the footwear maker’s stock after buying an additional 215 shares during the period. Main Street Financial Solutions LLC’s holdings in NIKE were worth $473,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Annapolis Financial Services LLC lifted its position in shares of 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 buying an additional 220 shares during the last quarter. True Wealth Design LLC lifted its position in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of NIKE during the 4th quarter valued at $33,000. Core Wealth Advisors Inc. lifted its position in shares of NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after buying an additional 241 shares during the last quarter. Finally, Gold Investment Management Ltd. purchased a new stake in NIKE during the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of recent research reports. Raymond James reissued a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Guggenheim dropped their price objective on NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 28th. KeyCorp reissued a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. UBS Group reissued a “neutral” rating and set a $78.00 price objective on shares of NIKE in a report on Friday, June 28th. Finally, Wells Fargo & Company dropped their price objective on NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a report on Friday, June 28th. Fourteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.59.

NIKE Price Performance

NKE opened at $79.01 on Friday. The stock’s 50 day simple moving average is $77.23 and its 200 day simple moving average is $87.88. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The firm has a market cap of $118.46 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $12.86 billion. During the same period last year, the company earned $0.66 EPS. NIKE’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, analysts predict that NIKE, Inc. will post 3.06 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now 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. Company insiders own 0.50% of the company’s stock.

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.