Allen Investment Management LLC Purchases New Position in NIKE, Inc. (NYSE:NKE)

Key Points

• Allen Investment Management LLC has made a new investment of $476,000 in NIKE, acquiring 7,499 shares of the company.
• In recent trading, NIKE's stock price is up 1.1%, with a current price of $76.27 and a market capitalization of $112.81 billion.
• Mark G. Parker, NIKE's Chairman, sold 110,000 shares of stock, reducing his ownership by 11.55%, while the company has announced a quarterly dividend of $0.40 per share.

Allen Investment Management LLC bought a new stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,499 shares of the footwear maker's stock, valued at approximately $476,000.

Other large investors have also bought and sold shares of the company. Heck Capital Advisors LLC bought a new position in NIKE during the fourth quarter valued at about $28,000. EnRich Financial Partners LLC boosted its stake in NIKE by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock valued at $31,000 after buying an additional 273 shares in the last quarter. Roxbury Financial LLC boosted its stake in NIKE by 52.1% during the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after buying an additional 201 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE boosted its position in shares of NIKE by 95.1% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 513 shares of the footwear maker's stock valued at $39,000 after purchasing an additional 250 shares during the period. Finally, Putney Financial Group LLC acquired a new position in shares of NIKE in the 4th quarter valued at $40,000. Institutional investors own 64.25% of the company's stock.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on 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 sale, the chairman owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NKE shares. DZ Bank lowered NIKE from a "buy" rating to a "hold" rating and set a $76.00 price target for the company. in a research report on Thursday, July 10th. Berenberg Bank initiated coverage on NIKE in a research note on Tuesday, April 15th. They issued a "hold" rating and a $58.00 price objective for the company. Wall Street Zen downgraded NIKE from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Williams Trading cut their price target on NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Finally, HSBC raised NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a research note on Friday, June 27th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.15.

NIKE Stock Performance

Shares of NYSE:NKE traded up $0.85 during trading on Friday, hitting $76.27. 7,148,164 shares of the stock were exchanged, compared to its average volume of 14,403,078. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The company has a market capitalization of $112.64 billion, a price-to-earnings ratio of 35.31, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. The company's fifty day simple moving average is $66.81 and its 200-day simple moving average is $67.29. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter last year, the firm earned $0.99 EPS. NIKE's revenue for the quarter was down 11.9% compared to the same quarter last year. Sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

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

NIKE 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.