Advocate Group LLC Has $3.24 Million Holdings in NIKE, Inc. $NKE

Key Points

• Advocate Group LLC increased its holdings in NIKE, Inc. by 9.8% during the second quarter, owning a total of 45,654 shares worth approximately $3.24 million.
• NIKE's recent quarterly earnings showed an EPS of $0.49, exceeding analysts' expectations and reflecting a 1.0% revenue growth compared to the same quarter last year.
• Institutional investors currently own 64.25% of NIKE's stock, indicating significant interest from large investment firms.

Advocate Group LLC lifted its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 9.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,654 shares of the footwear maker's stock after buying an additional 4,091 shares during the quarter. Advocate Group LLC's holdings in NIKE were worth $3,243,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after purchasing an additional 160,980 shares during the period. GAMMA Investing LLC grew its holdings in NIKE by 39.1% in the first quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker's stock worth $1,325,000 after purchasing an additional 5,863 shares during the period. Simon Quick Advisors LLC grew its holdings in NIKE by 21.0% in the first quarter. Simon Quick Advisors LLC now owns 3,986 shares of the footwear maker's stock worth $253,000 after purchasing an additional 691 shares during the period. Everhart Financial Group Inc. acquired a new stake in NIKE in the first quarter worth $229,000. Finally, Krilogy Financial LLC acquired a new stake in NIKE in the first quarter worth $661,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

NYSE NKE opened at $65.25 on Friday. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $84.76. The company has a 50-day simple moving average of $73.80 and a 200 day simple moving average of $67.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The company has a market capitalization of $96.45 billion, a PE ratio of 33.46, a price-to-earnings-growth ratio of 2.38 and a beta of 1.29.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data 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. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter last year, the company posted $0.70 earnings per share. The firm's quarterly revenue was up 1.0% compared to the same quarter last year. On average, research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a $0.40 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.5%. NIKE's dividend payout ratio (DPR) is presently 82.05%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NKE. DZ Bank raised shares of NIKE from a "hold" rating to a "buy" rating in a research note on Wednesday, October 1st. Bank of America raised their price objective on shares of NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Stifel Nicolaus set a $68.00 price objective on shares of NIKE and gave the company a "hold" rating in a research note on Wednesday, October 1st. HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a research note on Friday, June 27th. Finally, KeyCorp set a $90.00 price objective on shares of NIKE and gave the company an "overweight" rating in a research note on Thursday, October 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, NIKE presently has an average rating of "Moderate Buy" and a consensus target price of $81.57.

Insider Activity

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares of the company's stock, valued at $2,095,052.92. The trade was a 12.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 200,378 shares of company stock valued at $14,794,264 in the last quarter. Corporate insiders own 0.80% of the company's stock.

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.

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