Matauro LLC Has $321,000 Position in NIKE, Inc. $NKE

Key Points

• Matauro LLC has reduced its stake in NIKE, Inc. by 76.6% in the second quarter, now holding a total of 4,516 shares valued at $321,000.
• Analysts' sentiments are shifting positively, with several recent upgrades for NIKE, including upgrades from Cowen and DZ Bank to a "buy" rating.
• NIKE's recent quarterly earnings surpassed expectations, reporting an EPS of $0.49 against a consensus estimate of $0.27, with revenue of $11.72 billion.

Matauro LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 76.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,516 shares of the footwear maker's stock after selling 14,771 shares during the quarter. Matauro LLC's holdings in NIKE were worth $321,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Stone House Investment Management LLC acquired a new position in shares of NIKE during the 1st quarter worth about $25,000. Halbert Hargrove Global Advisors LLC grew its position in shares of NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker's stock worth $28,000 after buying an additional 362 shares during the period. Saudi Central Bank acquired a new position in shares of NIKE during the 1st quarter worth about $30,000. Matrix Trust Co grew its position in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after buying an additional 153 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new position in shares of NIKE during the 2nd quarter worth about $35,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Mark G. Parker sold 86,078 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NKE shares. Cowen upgraded NIKE from a "hold" rating to a "buy" rating in a report on Wednesday, September 10th. UBS Group set a $71.00 price objective on NIKE and gave the company a "neutral" rating in a report on Friday, September 19th. DZ Bank upgraded NIKE from a "hold" rating to a "buy" rating in a report on Wednesday. The Goldman Sachs Group set a $85.00 price objective on NIKE and gave the company a "buy" rating in a report on Thursday, September 25th. Finally, Royal Bank Of Canada upgraded NIKE from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $76.00 to $90.00 in a report on Thursday, September 18th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $81.57.

NIKE Trading Up 0.5%

NYSE NKE opened at $74.59 on Friday. The stock has a market capitalization of $110.16 billion, a price-to-earnings ratio of 38.25, a PEG ratio of 2.79 and a beta of 1.29. The stock's 50 day moving average price is $74.71 and its two-hundred day moving average price is $67.32. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.50 and a current ratio of 2.19. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $84.76.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. The firm had revenue of $11.72 billion for the quarter, compared to analysts' expectations of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 EPS. As a group, analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. NIKE's dividend payout ratio is currently 82.05%.

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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