Sierra Capital LLC Purchases New Stake in NIKE, Inc. (NYSE:NKE)

Sierra Capital LLC bought a new stake in NIKE, Inc. (NYSE:NKE) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,905 shares of the footwear maker’s stock, valued at approximately $257,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NKE. Advisors Asset Management Inc. boosted its position in NIKE by 86.0% in the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after buying an additional 9,689 shares in the last quarter. FORA Capital LLC acquired a new position in shares of NIKE in the first quarter valued at approximately $3,412,000. Cetera Advisors LLC boosted its position in NIKE by 85.5% during the 1st quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock worth $8,298,000 after buying an additional 40,704 shares during the period. Koshinski Asset Management Inc. bought a new stake in NIKE during the 1st quarter worth approximately $713,000. Finally, New Mexico Educational Retirement Board grew its stake in shares of NIKE by 15.7% in the first quarter. New Mexico Educational Retirement Board now owns 74,248 shares of the footwear maker’s stock worth $6,978,000 after purchasing an additional 10,100 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by company insiders.

NIKE Stock Up 0.1 %

NIKE stock traded up $0.06 during midday trading on Tuesday, hitting $81.54. 3,455,138 shares of the stock were exchanged, compared to its average volume of 11,640,188. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average price is $82.77 and its 200-day moving average price is $85.19. The stock has a market capitalization of $123.07 billion, a price-to-earnings ratio of 21.97, 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, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the business posted $0.94 EPS. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, research analysts expect that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.82%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NKE shares. TD Cowen lifted their target price on NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Evercore ISI reduced their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Oppenheimer reissued an “outperform” rating and set a $120.00 target price on shares of NIKE in a research report on Friday, June 28th. HSBC dropped their price target on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Finally, Royal Bank of Canada decreased their price objective on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.56.

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.