626 Financial LLC Invests $331,000 in NIKE, Inc. $NKE

626 Financial LLC purchased a new position in NIKE, Inc. (NYSE:NKE) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 4,666 shares of the footwear maker’s stock, valued at approximately $331,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NKE. Brighton Jones LLC boosted its position in shares of NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in NIKE by 3.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 16,500 shares of the footwear maker’s stock worth $1,047,000 after buying an additional 558 shares during the period. Allspring Global Investments Holdings LLC raised its stake in NIKE by 33.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 549,002 shares of the footwear maker’s stock worth $35,553,000 after buying an additional 138,753 shares during the period. Golden State Wealth Management LLC raised its stake in NIKE by 11.9% during the 1st quarter. Golden State Wealth Management LLC now owns 2,905 shares of the footwear maker’s stock worth $184,000 after buying an additional 310 shares during the period. Finally, Amalgamated Bank raised its stake in NIKE by 1.5% during the 1st quarter. Amalgamated Bank now owns 244,795 shares of the footwear maker’s stock worth $15,540,000 after buying an additional 3,683 shares during the period. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

NKE opened at $67.40 on Wednesday. The business’s 50-day moving average price is $72.01 and its two-hundred day moving average price is $68.10. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44. The company has a market capitalization of $99.63 billion, a price-to-earnings ratio of 34.57, a P/E/G ratio of 2.53 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter last year, the business posted $0.70 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.4%. NIKE’s payout ratio is currently 82.05%.

Analyst Upgrades and Downgrades

NKE has been the topic of several research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of NIKE in a research note on Friday, October 10th. Argus raised NIKE to a “buy” rating in a research note on Sunday, July 6th. Stifel Nicolaus set a $68.00 price objective on NIKE and gave the stock a “hold” rating in a research note on Wednesday, October 1st. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and raised their price objective for the stock from $62.00 to $85.00 in a research note on Wednesday, September 10th. Finally, Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $82.21.

Insider Transactions at NIKE

In related news, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the sale, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The SEC filing for this sale provides additional information. 0.80% of the stock is currently owned by insiders.

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.