Focus Partners Wealth Buys 78,886 Shares of NIKE, Inc. $NKE

Key Points

• Focus Partners Wealth has increased its stake in NIKE, Inc. by 28.1%, now holding 359,927 shares worth approximately $22.85 million.
• NIKE's chairman, Mark G. Parker, sold 86,078 shares, resulting in a 10.36% decrease in his ownership, with a remaining value of about $56.57 million.
• NIKE's current dividend yield stands at 2.2%, with a quarterly dividend of $0.40 per share, set to be paid on October 1st.

Focus Partners Wealth increased its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 28.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 359,927 shares of the footwear maker's stock after purchasing an additional 78,886 shares during the period. Focus Partners Wealth's holdings in NIKE were worth $22,851,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Stone House Investment Management LLC bought a new position in shares of NIKE in the first quarter worth approximately $25,000. Heck Capital Advisors LLC bought a new position in shares of NIKE in the fourth quarter worth approximately $28,000. Saudi Central Bank bought a new position in NIKE during the first quarter valued at approximately $30,000. Roxbury Financial LLC grew its position 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 acquiring an additional 201 shares during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in NIKE during the first quarter valued at approximately $37,000. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 86,078 shares of the firm's 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 sale, the chairman owned 744,988 shares of the company's stock, valued at $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.80% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Needham & Company LLC increased their price target on shares of NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Sanford C. Bernstein reiterated an "outperform" rating on shares of NIKE in a research report on Monday, August 18th. HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target on the stock in a research report on Friday, June 27th. Citigroup increased their price target on shares of NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, June 27th. Finally, UBS Group started coverage on NIKE in a research note on Sunday, July 6th. They set a "buy" rating for the company. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $78.67.

NIKE Stock Performance

NYSE:NKE opened at $74.32 on Friday. The firm has a market cap of $109.76 billion, a PE ratio of 34.41, a price-to-earnings-growth ratio of 2.70 and a beta of 1.24. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The business has a 50 day moving average price of $75.46 and a 200-day moving average price of $67.87.

NIKE (NYSE:NKE - Get Free Report) last announced 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. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same quarter last year, the firm posted $0.99 earnings per share. The firm's revenue was down 11.9% on a year-over-year basis. Equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

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

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