Geneos Wealth Management Inc. Raises Stock Holdings in NIKE, Inc. $NKE

Key Points

• Geneos Wealth Management Inc. has increased its stake in NIKE, Inc. by 15.5%, now holding 51,662 shares valued at approximately $3.28 million according to its latest SEC filing.
• The chairman, Mark G. Parker, sold 110,000 shares in July, resulting in an 11.55% decrease in his holdings, leaving him with approximately 842,361 shares.
• NIKE is expected to report earnings of $2.05 per share for the current year, despite a 11.9% decline in quarterly revenue year-over-year.

Geneos Wealth Management Inc. raised its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 15.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,662 shares of the footwear maker's stock after acquiring an additional 6,914 shares during the period. Geneos Wealth Management Inc.'s holdings in NIKE were worth $3,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of NKE. Brighton Jones LLC raised its holdings in shares of NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after acquiring an additional 160,980 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in 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 buying an additional 17,888 shares during the period. Triumph Capital Management purchased a new stake in NIKE during the 4th quarter valued at $215,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in NIKE by 5.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 227,177 shares of the footwear maker's stock valued at $17,190,000 after buying an additional 11,501 shares during the period. Finally, Minot DeBlois Advisors LLC purchased a new stake in NIKE during the 4th quarter valued at $42,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 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 transaction, the chairman owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.80% of the company's stock.

NIKE Stock Performance

Shares of NIKE stock opened at $74.22 on Thursday. The stock's fifty day moving average is $75.50 and its two-hundred day moving average is $67.91. The company has a market capitalization of $109.61 billion, a PE ratio of 34.36, a price-to-earnings-growth ratio of 2.67 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. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.NIKE's quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.99 EPS. As a group, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on NKE shares. Cowen upgraded NIKE from a "hold" rating to a "buy" rating in a report on Wednesday. Jefferies Financial Group restated a "buy" rating and set a $115.00 price target on shares of NIKE in a report on Friday, August 22nd. Evercore ISI decreased their price target on NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a report on Tuesday, June 24th. UBS Group started coverage on NIKE in a report on Sunday, July 6th. They set a "buy" rating on the stock. Finally, Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, NIKE presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.67.

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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