Capital Investment Advisors LLC Buys 3,754 Shares of NIKE, Inc. $NKE

Key Points

• Capital Investment Advisors LLC increased its stake in NIKE, Inc. by 6.5%, acquiring an additional 3,754 shares, bringing its total holdings to 61,768 shares valued at approximately $4.39 million.
• NIKE's Chairman, Mark G. Parker, sold 110,000 shares for about $7.95 million, which reduces his ownership by 11.55% to 842,361 shares.
• Brokerages have varied ratings for NIKE, with Goldman Sachs setting a target price of $85.00 and a "buy" rating, while the stock has a consensus rating of "Moderate Buy" and an average price target of $79.62.

Capital Investment Advisors LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 6.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,768 shares of the footwear maker's stock after acquiring an additional 3,754 shares during the period. Capital Investment Advisors LLC's holdings in NIKE were worth $4,388,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stone House Investment Management LLC acquired a new stake in NIKE in the 1st quarter valued at about $25,000. Matrix Trust Co lifted its stake in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock valued at $31,000 after purchasing an additional 153 shares during the last quarter. Saudi Central Bank acquired a new stake in NIKE in the 1st quarter valued at about $30,000. Opal Wealth Advisors LLC acquired a new stake in NIKE in the 2nd quarter valued at about $35,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in NIKE in the 1st quarter valued at about $37,000. Institutional investors own 64.25% of the company's stock.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction 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 completion of the transaction, the chairman directly owned 842,361 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NKE. The Goldman Sachs Group set a $85.00 target price on shares of NIKE and gave the company a "buy" rating in a research note on Thursday, September 25th. Needham & Company LLC raised their price objective on shares of NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Cowen upgraded shares of NIKE from a "hold" rating to a "buy" rating in a research report on Wednesday, September 10th. DZ Bank downgraded shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 price objective for the company. in a research report on Thursday, July 10th. Finally, UBS Group set a $71.00 price objective on shares of NIKE and gave the stock a "neutral" rating in a research report on Friday, September 19th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $79.62.

NIKE Price Performance

Shares of NYSE:NKE opened at $69.72 on Wednesday. The company's 50-day moving average is $74.78 and its 200 day moving average is $67.27. 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, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $89.64. The company has a market capitalization of $102.97 billion, a P/E ratio of 32.28, a price-to-earnings-growth ratio of 2.54 and a beta of 1.24.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. NIKE's revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio is 74.07%.

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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