Allium Financial Advisors LLC Takes Position in NIKE, Inc. (NYSE:NKE)

Key Points

• Allium Financial Advisors LLC acquired 8,053 shares of NIKE, Inc. in the first quarter, valued at approximately $511,000, reflecting growing interest from institutional investors.
• Recent analyst reports show a wide range of ratings for NIKE, with thirteen "hold," sixteen "buy," and one "sell" rating, along with a consensus target price of $77.15.
• NIKE reported an earnings per share of $0.14 for the last quarter, exceeding estimates, despite a year-over-year revenue decrease of 11.9%, with total revenue at $11.10 billion.

Allium Financial Advisors LLC acquired a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,053 shares of the footwear maker's stock, valued at approximately $511,000.

Several other institutional investors also recently bought and sold shares of the business. Wellington Management Group LLP grew its stake in NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after buying an additional 8,898,591 shares during the period. Geode Capital Management LLC grew its stake in NIKE by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock worth $1,915,110,000 after buying an additional 347,178 shares during the period. Capital World Investors boosted its stake in shares of NIKE by 10.3% in the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after purchasing an additional 2,288,627 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of NIKE by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after purchasing an additional 620,214 shares during the period. Finally, Norges Bank purchased a new position in shares of NIKE in the fourth quarter valued at $1,126,288,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.80% of the company's stock.

NIKE Price Performance

NKE traded up $0.85 on Friday, reaching $76.27. The company had a trading volume of 7,148,164 shares, compared to its average volume of 14,403,078. The company has a fifty day moving average of $66.81 and a 200-day moving average of $67.29. The company has a market capitalization of $112.64 billion, a P/E ratio of 35.31, a PEG ratio of 2.80 and a beta of 1.25. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62.

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

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were given a dividend of $0.40 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.10%. NIKE's dividend payout ratio (DPR) is 74.07%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research note on Friday, June 20th. Telsey Advisory Group restated a "market perform" rating and issued a $70.00 target price on shares of NIKE in a research note on Friday, June 27th. DZ Bank downgraded shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price for the company. in a research note on Thursday, July 10th. HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research note on Friday, June 27th. Finally, Robert W. Baird increased their price objective on shares of NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a research note on Friday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.15.

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.