Cacti Asset Management LLC Acquires 8,530 Shares of NIKE, Inc. $NKE

Key Points

• Cacti Asset Management LLC increased its holdings in NIKE, Inc. by 2.9%, acquiring an additional 8,530 shares, bringing their total to 306,839 shares worth approximately $22.1 million.
• Wall Street analysts have mixed ratings for NIKE, with price targets ranging from $61.00 to $80.00, and a consensus rating of "Moderate Buy."
• NIKE announced a quarterly dividend of $0.40 per share, with an ex-dividend date of September 2nd, representing a yield of 2.2%.

Cacti Asset Management LLC increased its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 306,839 shares of the footwear maker's stock after purchasing an additional 8,530 shares during the period. NIKE accounts for 1.6% of Cacti Asset Management LLC's holdings, making the stock its 18th biggest holding. Cacti Asset Management LLC's holdings in NIKE were worth $22,105,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after acquiring an additional 160,980 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in shares of NIKE by 10.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock valued at $14,447,000 after purchasing an additional 17,888 shares during the last quarter. Triumph Capital Management purchased a new position in shares of NIKE during the fourth quarter valued at about $215,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of NIKE by 5.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 227,177 shares of the footwear maker's stock worth $17,190,000 after purchasing an additional 11,501 shares during the last quarter. Finally, Man Group plc increased its holdings in shares of NIKE by 3.1% in the fourth quarter. Man Group plc now owns 358,812 shares of the footwear maker's stock worth $27,151,000 after purchasing an additional 10,762 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research note on Friday, June 20th. Morgan Stanley upped their price objective on NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. Evercore ISI lowered their target price on NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. Sanford C. Bernstein reissued an "outperform" rating on shares of NIKE in a report on Monday, August 18th. Finally, HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a research note on Friday, June 27th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.67.

NIKE Trading Down 1.6%

NKE stock opened at $73.12 on Friday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The stock has a market capitalization of $107.98 billion, a price-to-earnings ratio of 33.85, a price-to-earnings-growth ratio of 2.70 and a beta of 1.24. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The firm's fifty day simple moving average is $75.40 and its two-hundred day simple moving average is $67.81.

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

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. NIKE's payout ratio is 74.07%.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the sale, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.80% of the company's stock.

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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