NIKE, Inc. (NYSE:NKE) Shares Acquired by Great Lakes Advisors LLC

Great Lakes Advisors LLC boosted its holdings in NIKE, Inc. (NYSE:NKE) by 32.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,733 shares of the footwear maker’s stock after acquiring an additional 9,196 shares during the period. Great Lakes Advisors LLC’s holdings in NIKE were worth $4,165,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in NKE. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of NIKE in the second quarter worth $101,258,000. Cary Street Partners Investment Advisory LLC lifted its holdings in NIKE by 11.7% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 6,870 shares of the footwear maker’s stock valued at $758,000 after purchasing an additional 722 shares in the last quarter. Kelleher Financial Advisors boosted its stake in shares of NIKE by 6.5% during the 2nd quarter. Kelleher Financial Advisors now owns 19,028 shares of the footwear maker’s stock worth $2,100,000 after purchasing an additional 1,160 shares during the last quarter. Bowie Capital Management LLC grew its holdings in shares of NIKE by 8.4% during the second quarter. Bowie Capital Management LLC now owns 265,111 shares of the footwear maker’s stock worth $29,260,000 after buying an additional 20,467 shares in the last quarter. Finally, Bank of Hawaii acquired a new position in shares of NIKE in the second quarter valued at approximately $263,000. 63.42% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Price Performance

Shares of NKE stock opened at $106.32 on Tuesday. The firm has a fifty day moving average of $99.94 and a two-hundred day moving average of $105.52. The firm has a market cap of $161.81 billion, a P/E ratio of 32.81, a P/E/G ratio of 1.79 and a beta of 1.09. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $131.31. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.87 and a quick ratio of 1.84.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, September 28th. The footwear maker reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.20. NIKE had a return on equity of 34.97% and a net margin of 9.82%. The firm had revenue of $12.90 billion during the quarter, compared to analyst estimates of $13 billion. During the same period in the previous year, the company earned $0.93 earnings per share. NIKE’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, research analysts anticipate that NIKE, Inc. will post 3.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 4th will be given a dividend of $0.37 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.34. This represents a $1.48 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Friday, December 1st. NIKE’s dividend payout ratio is currently 41.98%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 58,091 shares of the stock in a transaction on Monday, October 16th. The shares were sold at an average price of $99.60, for a total transaction of $5,785,863.60. Following the sale, the chairman now directly owns 1,255,600 shares of the company’s stock, valued at $125,057,760. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robert Holmes Swan acquired 13,072 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was purchased at an average cost of $96.13 per share, for a total transaction of $1,256,611.36. Following the purchase, the director now directly owns 18,005 shares in the company, valued at $1,730,820.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 58,091 shares of the firm’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $99.60, for a total value of $5,785,863.60. Following the completion of the sale, the chairman now owns 1,255,600 shares in the company, valued at $125,057,760. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Williams Trading upgraded NIKE from a “sell” rating to a “hold” rating and boosted their price target for the company from $91.00 to $92.00 in a report on Friday, September 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $113.00 price target on shares of NIKE in a research note on Friday, October 6th. Citigroup dropped their price objective on shares of NIKE from $109.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, September 20th. Stifel Nicolaus decreased their target price on shares of NIKE from $143.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, August 28th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $128.00 price target on shares of NIKE in a research report on Friday, September 29th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $122.03.

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.