Eaton Financial Holdings Company LLC Acquires New Position in NIKE, Inc. $NKE

Key Points

• Eaton Financial Holdings Company LLC has acquired 11,241 shares of NIKE, Inc., valued at approximately $799,000, marking a new position for the firm in the stock.
• Chairman Mark G. Parker sold 110,000 shares of NIKE stock at around $72.29 per share, resulting in a total transaction of approximately $7.95 million and a decrease of 11.55% in his holdings.
• NIKE recently reported a quarterly earnings per share (EPS) of $0.14, surpassing analyst expectations and generating revenues of $11.10 billion, despite a year-over-year revenue decline of 11.9%.

Eaton Financial Holdings Company LLC bought a new position in NIKE, Inc. (NYSE:NKE - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm bought 11,241 shares of the footwear maker's stock, valued at approximately $799,000.

Other hedge funds have also bought and sold shares of the company. Caldwell Sutter Capital Inc. raised its stake in NIKE by 6.3% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker's stock worth $170,000 after acquiring an additional 142 shares during the last quarter. Westmount Partners LLC grew its stake in NIKE by 2.9% during the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker's stock valued at $367,000 after purchasing an additional 146 shares during the last quarter. Matrix Trust Co increased its holdings in shares of NIKE by 53.1% in the second 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 period. RB Capital Management LLC increased its holdings in shares of NIKE by 0.4% in the second quarter. RB Capital Management LLC now owns 46,327 shares of the footwear maker's stock valued at $3,291,000 after purchasing an additional 171 shares during the period. Finally, Breakwater Capital Group raised its stake in shares of NIKE by 4.8% in the second quarter. Breakwater Capital Group now owns 3,873 shares of the footwear maker's stock worth $275,000 after purchasing an additional 177 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction dated 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 sale, the chairman directly 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 this hyperlink. Corporate insiders own 0.80% of the company's stock.

NIKE Stock Performance

NIKE stock opened at $71.29 on Tuesday. The firm has a 50 day simple moving average of $75.16 and a 200-day simple moving average of $67.38. The stock has a market cap of $105.29 billion, a price-to-earnings ratio of 33.01, a price-to-earnings-growth ratio of 2.57 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62.

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, beating the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the previous year, the company earned $0.99 EPS. The business's revenue for the quarter was down 11.9% compared to the same quarter last year. On average, analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Jefferies Financial Group reiterated a "buy" rating and issued a $115.00 target price on shares of NIKE in a research report on Friday, August 22nd. UBS Group set a $71.00 price objective on shares of NIKE and gave the company a "neutral" rating in a research note on Friday. Citigroup raised shares of NIKE from a "neutral" rating to a "positive" rating in a report on Friday. Morgan Stanley raised their target price on shares of NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research report on Friday, June 20th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $79.04.

NIKE Company 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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