IMS Capital Management Makes New $873,000 Investment in NIKE, Inc. $NKE

Key Points

• IMS Capital Management has made a new investment of approximately $873,000 in NIKE, acquiring 12,285 shares during the second quarter.
• NIKE's quarterly earnings report showed earnings of $0.14 per share, exceeding analysts' expectations, although revenue decreased by 11.9% compared to the same period last year.
• Chairman Mark G. Parker sold 110,000 shares of NIKE stock, reducing his total holdings by 11.55%, worth about $7.95 million.

IMS Capital Management bought a new stake in NIKE, Inc. (NYSE:NKE - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 12,285 shares of the footwear maker's stock, valued at approximately $873,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stone House Investment Management LLC acquired a new stake in NIKE during the 1st quarter worth approximately $25,000. Heck Capital Advisors LLC purchased a new stake in shares of NIKE during the fourth quarter worth approximately $28,000. Saudi Central Bank acquired a new stake in shares of NIKE during the first quarter worth $30,000. Matrix Trust Co grew its position 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 buying an additional 153 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new position in NIKE in the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value 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 $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.80% of the stock is owned by corporate insiders.

NIKE Stock Performance

Shares of NYSE:NKE opened at $70.92 on Wednesday. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The business has a 50-day moving average of $75.14 and a two-hundred day moving average of $67.40. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The firm has a market capitalization of $104.73 billion, a PE ratio of 32.83, a P/E/G ratio of 2.58 and a beta of 1.24.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $10.69 billion. During the same period in the previous year, the company posted $0.99 earnings per share. NIKE's revenue was down 11.9% compared to the same quarter last year. As a group, research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced 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 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's payout ratio is presently 74.07%.

Analysts Set New Price Targets

Several research firms have recently commented on NKE. TD Cowen upgraded shares of NIKE from a "hold" rating to a "buy" rating and raised their target price for the stock from $62.00 to $85.00 in a research note 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. UBS Group set a $71.00 price target on shares of NIKE and gave the stock a "neutral" rating in a research note on Friday. Zacks Research raised NIKE from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Finally, 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. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $79.46.

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.

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.