Abacus Planning Group Inc. Takes $505,000 Position in NIKE, Inc. $NKE

Key Points

• Abacus Planning Group Inc. invested approximately $505,000 in NIKE, acquiring 7,105 shares during the second quarter, as disclosed in its recent SEC filing.
• NIKE's stock has received mixed analyst ratings, with Jefferies maintaining a "buy" rating and a target price of $115.00, while Deutsche Bank lowered their target from $77.00 to $71.00.
• NIKE's latest earnings report showed an EPS of $0.49, surpassing analyst expectations by $0.22, along with a quarterly revenue of $11.72 billion.

Abacus Planning Group Inc. bought a new stake in NIKE, Inc. (NYSE:NKE - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,105 shares of the footwear maker's stock, valued at approximately $505,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its position in NIKE by 0.5% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 216,143 shares of the footwear maker's stock valued at $15,355,000 after buying an additional 1,143 shares in the last quarter. Tower View Wealth Management LLC boosted its stake in shares of NIKE by 806.1% in the 2nd quarter. Tower View Wealth Management LLC now owns 1,341 shares of the footwear maker's stock worth $95,000 after buying an additional 1,193 shares during the last quarter. ASR Vermogensbeheer N.V. boosted its stake in shares of NIKE by 7.4% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 585,435 shares of the footwear maker's stock worth $41,587,000 after buying an additional 40,564 shares during the last quarter. Trust Co of Kansas boosted its stake in shares of NIKE by 0.9% in the 2nd quarter. Trust Co of Kansas now owns 70,917 shares of the footwear maker's stock worth $5,038,000 after buying an additional 631 shares during the last quarter. Finally, Northstar Group Inc. boosted its stake in shares of NIKE by 2.5% in the 2nd quarter. Northstar Group Inc. now owns 20,240 shares of the footwear maker's stock worth $1,438,000 after buying an additional 497 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on NKE shares. Jefferies Financial Group reiterated a "buy" rating and set a $115.00 target price on shares of NIKE in a research report on Monday. Deutsche Bank Aktiengesellschaft reduced their target price on NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a report on Friday, June 20th. Evercore ISI reduced their price objective on NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 24th. Needham & Company LLC reaffirmed a "buy" rating and set a $78.00 target price on shares of NIKE in a research note on Wednesday. Finally, Citigroup upgraded NIKE from a "neutral" rating to a "positive" rating in a report on Friday, September 19th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, NIKE presently has an average rating of "Moderate Buy" and an average target price of $81.57.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Wednesday, July 16th. The stock was 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 filing with the SEC, which is accessible through this link. Insiders own 0.80% of the company's stock.

NIKE Trading Up 0.5%

NIKE stock opened at $74.59 on Friday. The stock has a 50-day moving average of $74.71 and a two-hundred day moving average of $67.32. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.50 and a current ratio of 2.19. NIKE, Inc. has a one year low of $52.28 and a one year high of $84.76. The stock has a market cap of $110.16 billion, a PE ratio of 38.25, a price-to-earnings-growth ratio of 2.79 and a beta of 1.29.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.22. The company had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.70 EPS. On average, research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. NIKE's dividend payout ratio (DPR) is presently 82.05%.

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.

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