NorthRock Partners LLC Has $811,000 Stake in NIKE, Inc. (NYSE:NKE)

NorthRock Partners LLC raised its position in shares of NIKE, Inc. (NYSE:NKE) by 13.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,626 shares of the footwear maker’s stock after purchasing an additional 997 shares during the period. NorthRock Partners LLC’s holdings in NIKE were worth $811,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Raleigh Capital Management Inc. grew its stake in shares of NIKE by 134.2% in the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after purchasing an additional 216 shares during the last quarter. Anchor Investment Management LLC bought a new stake in shares of NIKE in the fourth quarter worth $219,000. Apella Capital LLC grew its stake in shares of NIKE by 5.9% in the fourth quarter. Apella Capital LLC now owns 3,213 shares of the footwear maker’s stock worth $329,000 after purchasing an additional 178 shares during the last quarter. Capital Investment Advisors LLC grew its stake in shares of NIKE by 5.4% in the fourth quarter. Capital Investment Advisors LLC now owns 19,449 shares of the footwear maker’s stock worth $2,112,000 after purchasing an additional 991 shares during the last quarter. Finally, Diversified Trust Co boosted its position in NIKE by 18.0% during the fourth quarter. Diversified Trust Co now owns 17,191 shares of the footwear maker’s stock valued at $1,866,000 after acquiring an additional 2,619 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NKE stock traded up $0.64 during trading hours on Tuesday, hitting $71.95. 1,926,209 shares of the company were exchanged, compared to its average volume of 11,196,637. The firm has a fifty day simple moving average of $89.07 and a 200 day simple moving average of $95.64. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a 52-week low of $71.24 and a 52-week high of $123.39. The stock has a market capitalization of $108.60 billion, a price-to-earnings ratio of 19.12, a P/E/G ratio of 1.88 and a beta of 1.01.

NIKE (NYSE:NKE) last issued 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 net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter last year, the business posted $0.66 EPS. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. Research analysts predict that NIKE, Inc. will post 3.17 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a $0.37 dividend. The ex-dividend date was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 2.06%. NIKE’s dividend payout ratio is 39.68%.

Insider Activity at NIKE

In related news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares in the company, valued at approximately $68,357.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at $68,357.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 213,660 shares of company stock worth $19,946,333. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NKE. Williams Trading reaffirmed a “sell” rating and set a $85.00 price target (down previously from $92.00) on shares of NIKE in a research report on Monday, March 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $83.00 price target (down previously from $116.00) on shares of NIKE in a research report on Friday, June 28th. Bank of America cut their price target on shares of NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $79.00 price target (down previously from $114.00) on shares of NIKE in a research report on Friday, June 28th. Finally, HSBC dropped their price objective on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $96.44.

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.