LexAurum Advisors LLC Raises Holdings in NIKE, Inc. (NYSE:NKE)

LexAurum Advisors LLC grew its position in shares of NIKE, Inc. (NYSE:NKE) by 2.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,043 shares of the footwear maker’s stock after buying an additional 352 shares during the period. LexAurum Advisors LLC’s holdings in NIKE were worth $1,595,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after buying an additional 501,792 shares during the last quarter. Legal & General Group Plc raised its stake in shares of NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after purchasing an additional 571,544 shares during the period. Jennison Associates LLC raised its stake in shares of NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after purchasing an additional 2,775,510 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of NIKE by 0.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock valued at $454,151,000 after purchasing an additional 52,500 shares during the period. Finally, Longview Partners Guernsey LTD bought a new stake in shares of NIKE during the 1st quarter valued at $533,533,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is owned by corporate insiders.

NIKE Trading Down 0.6 %

NYSE NKE opened at $83.41 on Friday. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The stock has a 50 day simple moving average of $82.46 and a two-hundred day simple moving average of $85.38. The stock has a market cap of $125.90 billion, a P/E ratio of 22.36, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 EPS. On average, analysts forecast that NIKE, Inc. will post 2.8 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Tuesday, September 3rd. NIKE’s payout ratio is presently 39.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NKE shares. Wedbush decreased their target price on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. TD Cowen upped their target price on NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. HSBC decreased their target price on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Raymond James restated a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. Finally, Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and increased their price objective for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $96.56.

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.