MSH Capital Advisors LLC Takes Position in NIKE, Inc. $NKE

MSH Capital Advisors LLC bought a new stake in NIKE, Inc. (NYSE:NKE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,014 shares of the footwear maker's stock, valued at approximately $996,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NKE. Spire Wealth Management grew its position in NIKE by 4.4% during the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after buying an additional 416 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its position in NIKE by 0.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock valued at $69,932,000 after buying an additional 5,601 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new position in NIKE during the first quarter valued at about $25,963,000. BROOKFIELD Corp ON grew its position in NIKE by 36.2% during the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker's stock valued at $41,808,000 after buying an additional 175,000 shares during the period. Finally, Cadence Bank grew its position in NIKE by 10.0% during the first quarter. Cadence Bank now owns 83,002 shares of the footwear maker's stock valued at $5,269,000 after buying an additional 7,574 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Telsey Advisory Group restated a "market perform" rating and set a $75.00 price target on shares of NIKE in a research report on Wednesday, October 1st. Weiss Ratings upgraded shares of NIKE from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday. Barclays set a $70.00 price target on shares of NIKE and gave the company a "positive" rating in a research report on Wednesday, October 1st. Royal Bank Of Canada upgraded shares of NIKE from a "sector perform" rating to an "outperform" rating and increased their price target for the company from $76.00 to $90.00 in a research report on Thursday, September 18th. Finally, HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a research report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $81.57.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the transaction, the chairman directly owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 200,378 shares of company stock valued at $14,794,264. 0.80% of the stock is currently owned by company insiders.

NIKE Trading Up 0.3%

Shares of NIKE stock opened at $69.10 on Thursday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $84.76. The firm has a market cap of $102.05 billion, a PE ratio of 35.44, a PEG ratio of 2.52 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The company has a 50 day simple moving average of $74.12 and a two-hundred day simple moving average of $67.29.

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

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.3%. NIKE's payout ratio is presently 82.05%.

NIKE Company 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.

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