Beacon Financial Advisory LLC Purchases 3,815 Shares of NIKE, Inc. $NKE

Key Points

• Beacon Financial Advisory LLC increased its stake in NIKE, Inc. by 98.3% during the second quarter, acquiring an additional 3,815 shares, bringing their total holdings to 7,695 shares valued at approximately $547,000.
• NIKE reported quarterly earnings of $0.49 EPS, surpassing estimates of $0.27, with a revenue of $11.72 billion compared to expectations of $10.96 billion.
• The company's shares are currently trading around $72.01, reflecting a 3.4% decline recently, while the consensus price target from analysts is set at $81.57.

Beacon Financial Advisory LLC lifted its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 98.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,695 shares of the footwear maker's stock after purchasing an additional 3,815 shares during the period. Beacon Financial Advisory LLC's holdings in NIKE were worth $547,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Caldwell Sutter Capital Inc. raised its stake in NIKE by 6.3% during the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker's stock valued at $170,000 after purchasing an additional 142 shares during the last quarter. Westmount Partners LLC increased its holdings in shares of NIKE by 2.9% during the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker's stock worth $367,000 after purchasing an additional 146 shares during the period. HB Wealth Management LLC increased its holdings in shares of NIKE by 0.3% during the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker's stock worth $3,695,000 after purchasing an additional 147 shares during the period. Matrix Trust Co raised its position in shares of NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock valued at $31,000 after buying an additional 153 shares during the last quarter. Finally, Summit Financial Strategies Inc. lifted its stake in shares of NIKE by 3.8% in the second quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker's stock valued at $303,000 after buying an additional 155 shares during the period. Institutional investors own 64.25% of the company's stock.

NIKE Stock Down 3.4%

Shares of NYSE:NKE opened at $72.01 on Monday. The company's fifty day moving average is $74.62 and its 200-day moving average is $67.24. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $84.76. The company has a market capitalization of $106.34 billion, a PE ratio of 36.93, a P/E/G ratio of 2.64 and a beta of 1.29.

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

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given 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 yield of 2.2%. NIKE's dividend payout ratio is 82.05%.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the transaction, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on NKE. Needham & Company LLC restated a "buy" rating and set a $78.00 price target on shares of NIKE in a research note on Wednesday, October 1st. Bank of America boosted their price objective on NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, June 27th. KeyCorp set a $90.00 target price on NIKE and gave the company an "overweight" rating in a research note on Thursday. Telsey Advisory Group reiterated a "market perform" rating and set a $75.00 price target on shares of NIKE in a research note on Wednesday, October 1st. Finally, Wall Street Zen upgraded shares of NIKE from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $81.57.

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.

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