Flagship Harbor Advisors LLC Has $859,000 Holdings in NIKE, Inc. $NKE

Flagship Harbor Advisors LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 11.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,098 shares of the footwear maker’s stock after selling 1,634 shares during the period. Flagship Harbor Advisors LLC’s holdings in NIKE were worth $859,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Econ Financial Services Corp raised its position in shares of NIKE by 39.4% in the 2nd quarter. Econ Financial Services Corp now owns 49,463 shares of the footwear maker’s stock valued at $3,514,000 after acquiring an additional 13,983 shares during the period. Mayflower Financial Advisors LLC raised its position in shares of NIKE by 13.7% in the 2nd quarter. Mayflower Financial Advisors LLC now owns 12,779 shares of the footwear maker’s stock valued at $908,000 after acquiring an additional 1,540 shares during the period. 626 Financial LLC acquired a new stake in shares of NIKE in the 2nd quarter valued at approximately $331,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of NIKE by 22,134.6% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 225,014 shares of the footwear maker’s stock valued at $16,185,000 after acquiring an additional 224,002 shares during the period. Finally, Jennison Associates LLC raised its position in shares of NIKE by 3.8% in the 2nd quarter. Jennison Associates LLC now owns 8,319,862 shares of the footwear maker’s stock valued at $591,043,000 after acquiring an additional 300,781 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NKE stock opened at $64.90 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The company has a market capitalization of $95.93 billion, a P/E ratio of 33.28, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The company’s 50 day moving average price is $71.57 and its two-hundred day moving average price is $68.15. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44.

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

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a $0.40 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.5%. NIKE’s dividend payout ratio (DPR) is 82.05%.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of analyst reports. BTIG Research initiated coverage on shares of NIKE in a research report on Tuesday, October 14th. They issued a “buy” rating and a $100.00 price target on the stock. UBS Group set a $71.00 target price on NIKE and gave the company a “neutral” rating in a research note on Friday, September 19th. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Jefferies Financial Group reissued a “buy” rating and issued a $115.00 target price on shares of NIKE in a research note on Monday, September 29th. Finally, KeyCorp set a $90.00 target price on NIKE and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Three research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.21.

Insider Buying and Selling

In other news, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the sale, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is owned by company insiders.

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.