79,090 Shares in NIKE, Inc. (NYSE:NKE) Purchased by Harbor Island Capital LLC

Key Points

• Harbor Island Capital LLC acquired 79,090 shares of NIKE, Inc., valued at approximately $5 million, making it 2.5% of their total holdings.
• Wall Street analysts show varied opinions on NIKE's stock, with 17 analysts rating it as a buy and a consensus target price of $78.22.
• NIKE's latest earnings report indicated an EPS of $0.14, surpassing estimates but reflecting a 11.9% decline in revenue year-over-year.

Harbor Island Capital LLC purchased a new position in NIKE, Inc. (NYSE:NKE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 79,090 shares of the footwear maker's stock, valued at approximately $5,021,000. NIKE accounts for 2.5% of Harbor Island Capital LLC's investment portfolio, making the stock its 14th largest position.

A number of other hedge funds also recently modified their holdings of the stock. Heck Capital Advisors LLC acquired a new position in shares of NIKE in the fourth quarter worth approximately $28,000. EnRich Financial Partners LLC lifted its stake in shares of NIKE by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock worth $31,000 after acquiring an additional 273 shares during the period. Roxbury Financial LLC lifted its stake in shares of NIKE by 52.1% in the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after acquiring an additional 201 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of NIKE in the first quarter worth approximately $37,000. Finally, Ritter Daniher Financial Advisory LLC DE lifted its stake in shares of NIKE by 95.1% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 513 shares of the footwear maker's stock worth $39,000 after acquiring an additional 250 shares during the period. Institutional investors own 64.25% of the company's stock.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the company's 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 $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is owned by corporate insiders.

NIKE Stock Performance

NKE stock traded down $1.20 during midday trading on Thursday, hitting $74.28. The company's stock had a trading volume of 8,712,231 shares, compared to its average volume of 11,664,490. The stock's 50-day moving average price is $69.43 and its 200 day moving average price is $67.63. 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 1 year low of $52.28 and a 1 year high of $90.62. The stock has a market cap of $109.71 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 2.74 and a beta of 1.27.

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

Analyst Upgrades and Downgrades

NKE has been the topic of several recent analyst reports. UBS Group initiated coverage on NIKE in a research note on Sunday, July 6th. They issued a "buy" rating on the stock. Hsbc Global Res raised NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Morgan Stanley boosted their price target on NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. Needham & Company LLC boosted their price target on NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Finally, DZ Bank lowered NIKE from a "buy" rating to a "hold" rating and set a $76.00 price target on the stock. in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $78.22.

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.