Kingstone Capital Partners Texas LLC Invests $96.11 Million in NIKE, Inc. $NKE

Key Points

• Kingstone Capital Partners Texas LLC has acquired a new stake in NIKE, purchasing approximately 1.35 million shares valued at around $96 million, marking an ownership of 0.09% in the company.
• Multiple institutional investors have increased their holdings in NIKE, with notable increases from Mackenzie Financial Corp (75.1%) and Olstein Capital Management L.P. (42.2%) this year.
• NIKE is experiencing a positive shift in analyst ratings, with several firms raising their price targets, and the stock currently holds a consensus rating of “Moderate Buy” with a target price of $79.04.

Kingstone Capital Partners Texas LLC purchased a new position in NIKE, Inc. (NYSE:NKE - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,352,847 shares of the footwear maker's stock, valued at approximately $96,106,000. Kingstone Capital Partners Texas LLC owned 0.09% of NIKE at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Westmount Partners LLC lifted its stake in shares of NIKE by 2.9% in the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker's stock worth $367,000 after acquiring an additional 146 shares during the period. RB Capital Management LLC lifted its stake in shares of NIKE by 0.4% in the 2nd quarter. RB Capital Management LLC now owns 46,327 shares of the footwear maker's stock worth $3,291,000 after acquiring an additional 171 shares during the period. Breakwater Capital Group lifted its stake in shares of NIKE by 4.8% in the 2nd quarter. Breakwater Capital Group now owns 3,873 shares of the footwear maker's stock worth $275,000 after acquiring an additional 177 shares during the period. Bruce G. Allen Investments LLC lifted its stake in NIKE by 20.2% during the second quarter. Bruce G. Allen Investments LLC now owns 1,055 shares of the footwear maker's stock valued at $75,000 after purchasing an additional 177 shares during the last quarter. Finally, Peregrine Asset Advisers Inc. lifted its stake in NIKE by 1.2% during the first quarter. Peregrine Asset Advisers Inc. now owns 15,119 shares of the footwear maker's stock valued at $934,000 after purchasing an additional 181 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on NKE. Bank of America increased their target price on shares of NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, June 27th. The Goldman Sachs Group increased their target price on shares of NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a research note on Friday, June 27th. DZ Bank lowered shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price for the company. in a research note on Thursday, July 10th. Royal Bank Of Canada raised shares of NIKE from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $76.00 to $90.00 in a research note on Thursday. Finally, Argus raised shares of NIKE to a "buy" rating in a research note on Sunday, July 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $79.04.

NIKE Trading Down 1.7%

Shares of NYSE:NKE traded down $1.22 during mid-day trading on Friday, hitting $70.88. The stock had a trading volume of 33,397,876 shares, compared to its average volume of 10,678,684. 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 company has a market cap of $104.68 billion, a PE ratio of 32.81, a P/E/G ratio of 2.57 and a beta of 1.24. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The company's 50 day moving average is $75.19 and its 200-day moving average is $67.50.

NIKE (NYSE:NKE - Get Free Report) last issued 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. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm's quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.99 EPS. On average, sell-side analysts predict 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. Investors of record on Tuesday, September 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio is 74.07%.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction that occurred on 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 transaction, the chairman owned 842,361 shares in the company, 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 is available through the SEC website. Corporate insiders own 0.80% of the company's stock.

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.