Martin Capital Partners LLC Raises Stake in NIKE, Inc. $NKE

Key Points

• Martin Capital Partners LLC significantly increased its stake in NIKE, Inc. by 229.3% during the second quarter, now holding nearly 50,000 shares valued at approximately $3.54 million.
• Analysts have given NIKE a consensus rating of "Moderate Buy" with an average target price of $78.67, reflecting a mix of ratings ranging from Strong Buy to Hold.
• The company recently declared a quarterly dividend of $0.40 per share, resulting in an annualized yield of 2.2%, with a dividend payout ratio of 74.07%.

Martin Capital Partners LLC lifted its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 229.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 49,827 shares of the footwear maker's stock after purchasing an additional 34,694 shares during the quarter. Martin Capital Partners LLC's holdings in NIKE were worth $3,540,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Spire Wealth Management boosted its holdings in NIKE by 4.4% in the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock worth $627,000 after acquiring an additional 416 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in NIKE by 0.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock worth $69,932,000 after acquiring an additional 5,601 shares during the period. Mackenzie Financial Corp boosted its holdings in NIKE by 75.1% in the 4th quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker's stock worth $40,835,000 after acquiring an additional 231,417 shares during the period. Clal Insurance Enterprises Holdings Ltd purchased a new position in NIKE in the 1st quarter worth approximately $25,963,000. Finally, Olstein Capital Management L.P. boosted its holdings in NIKE by 42.2% in the 1st quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker's stock worth $5,777,000 after acquiring an additional 27,000 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Sanford C. Bernstein restated an "outperform" rating on shares of NIKE in a report on Monday, August 18th. Wall Street Zen upgraded NIKE from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Argus upgraded NIKE to a "buy" rating in a research note on Sunday, July 6th. Robert W. Baird increased their target price on NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a research note on Friday, June 27th. Finally, Royal Bank Of Canada reduced their target price on NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 20th. 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $78.67.

NIKE Price Performance

Shares of NYSE NKE opened at $73.12 on Monday. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The firm's 50-day simple moving average is $75.40 and its 200 day simple moving average 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. The stock has a market cap of $107.98 billion, a P/E ratio of 33.85, a P/E/G ratio of 2.65 and a beta of 1.24.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company's revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 earnings per share. Equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business 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 currently 74.07%.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated 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. The trade was a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.80% of the company's stock.

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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