4,991 Shares in NIKE, Inc. (NYSE:NKE) Purchased by Accuvest Global Advisors

Key Points

• Accuvest Global Advisors purchased 4,991 shares of NIKE, Inc., valued at approximately $317,000, as reported in its latest Form 13F filing with the SEC.
• Insider trading activity includes NIKE Chairman Mark G. Parker selling 110,000 shares for about $7.95 million, which resulted in an 11.55% decrease in his ownership.
• Wall Street analysts have upgraded NIKE's rating to "strong buy" with an average price target of $78.22, indicating positive growth expectations for the company.

Accuvest Global Advisors acquired a new stake in NIKE, Inc. (NYSE:NKE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,991 shares of the footwear maker's stock, valued at approximately $317,000.

Several other hedge funds also recently bought and sold shares of the stock. Spire Wealth Management increased its position in NIKE by 4.4% during the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock worth $627,000 after buying an additional 416 shares in the last quarter. Capitolis Liquid Global Markets LLC increased its position in NIKE by 40.9% during the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock worth $23,458,000 after buying an additional 90,000 shares in the last quarter. Janus Henderson Group PLC increased its position in NIKE by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock worth $460,160,000 after buying an additional 463,470 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in NIKE by 0.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock worth $69,932,000 after buying an additional 5,601 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its position in NIKE by 3.3% during the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker's stock worth $18,042,000 after buying an additional 7,536 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Stock Down 0.2%

Shares of NYSE NKE traded down $0.18 on Friday, hitting $74.17. The company had a trading volume of 6,733,814 shares, compared to its average volume of 11,448,546. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The business has a 50 day moving average of $69.70 and a two-hundred day moving average of $67.64. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $109.54 billion, a P/E ratio of 34.34, a PEG ratio of 2.70 and a beta of 1.27.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. The company's revenue was down 11.9% compared to the same quarter last year. As a group, equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. NIKE's payout ratio is 74.07%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NKE shares. Jefferies Financial Group reissued a "buy" rating on shares of NIKE in a research report on Friday, May 23rd. Argus raised NIKE to a "buy" rating in a research report on Sunday, July 6th. HSBC raised NIKE from a "hold" rating to a "buy" rating and set a $80.00 price objective for the company in a research report on Friday, June 27th. DZ Bank downgraded NIKE from a "buy" rating to a "hold" rating and set a $76.00 price objective for the company. in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada lowered their price objective on NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $78.22.

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.