NewEdge Advisors LLC Grows Holdings in NIKE, Inc. $NKE

NewEdge Advisors LLC grew its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 76.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 237,064 shares of the footwear maker's stock after purchasing an additional 102,701 shares during the period. NewEdge Advisors LLC's holdings in NIKE were worth $9,731,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Brighton Jones LLC boosted its holdings in shares of NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after purchasing an additional 160,980 shares during the period. Caxton Associates LLP purchased a new position in NIKE during the 1st quarter worth $311,000. United Bank raised its position in NIKE by 11.3% during the 2nd quarter. United Bank now owns 17,067 shares of the footwear maker's stock valued at $1,212,000 after purchasing an additional 1,736 shares in the last quarter. CIBC Asset Management Inc raised its position in NIKE by 6.5% during the 2nd quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker's stock valued at $13,588,000 after purchasing an additional 11,646 shares in the last quarter. Finally, Main Street Financial Solutions LLC lifted its holdings in shares of NIKE by 4.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker's stock worth $244,000 after buying an additional 139 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Philip McCartney sold 2,559 shares of the company's stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total transaction of $96,192.81. Following the transaction, the executive vice president directly owned 78,121 shares of the company's stock, valued at approximately $2,936,568.39. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Venkatesh Alagirisamy sold 3,671 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total value of $137,992.89. Following the sale, the chief operating officer owned 104,862 shares of the company's stock, valued at approximately $3,941,762.58. This represents a 3.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 14,974 shares of company stock valued at $600,126 over the last three months. Company insiders own 1.10% of the company's stock.

NIKE Trading Up 0.5%

NKE opened at $36.81 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. The firm has a market cap of $54.62 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 1.80 and a beta of 1.10. NIKE, Inc. has a 12 month low of $36.55 and a 12 month high of $76.97. The stock has a fifty day moving average price of $41.04 and a 200-day moving average price of $45.32.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.09. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The firm's quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 earnings per share. As a group, equities research analysts anticipate that NIKE, Inc. will post 1.74 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.5%. NIKE's dividend payout ratio is presently 78.47%.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of recent research reports. Wall Street Zen raised NIKE from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Jefferies Financial Group reaffirmed a "buy" rating on shares of NIKE in a research note on Tuesday, August 25th. DZ Bank reiterated a "buy" rating on shares of NIKE in a report on Tuesday, June 30th. Bank of America reduced their price target on shares of NIKE from $55.00 to $47.00 and set a "neutral" rating for the company in a report on Wednesday, July 1st. Finally, Telsey Advisory Group set a $47.00 price target on shares of NIKE and gave the stock a "market perform" rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twenty have assigned a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $50.12.

Key Stories Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Some analysts argue that NIKE’s core business remains viable despite weak sentiment. The depressed valuation and approximately 4.5% dividend yield could attract long-term investors if management can successfully restore growth. Nike Is Now Down 40% This Year
• Neutral Sentiment: NIKE shareholders approved an expanded employee stock purchase plan. The measure may help employee retention, although potential additional share issuance could dilute existing shareholders. Nike Shareholders Approve Expanded Employee Stock Purchase Plan
• Neutral Sentiment: NIKE’s latest quarterly results exceeded earnings and revenue expectations, but sales still declined year over year. Analysts currently expect about $1.74 in earnings per share for the full year, leaving the valuation dependent on a meaningful operational recovery.
• Negative Sentiment: Morgan Stanley warned that the selloff may continue, citing persistent operating weakness and disappointing performance. NIKE’s imminent removal from the S&P 100 may also reduce index-related demand and reinforce negative sentiment. Morgan Stanley Says the Pain May Not Be Over Yet
• Negative Sentiment: BMO Capital Markets issued a strongly bearish “Underperform”/“Strong Sell” view, adding to a series of negative Wall Street calls. Analysts continue to cite intense competition, shifting consumer preferences and broad product-market challenges. Nike Gains Another Bearish Call
• Negative Sentiment: Two senior executives sold shares worth approximately $234,000 combined under pre-arranged Rule 10b5-1 plans. The sales were relatively small and scheduled in advance, but they add to near-term caution among investors. NIKE Insider Selling

About NIKE

NIKE, Inc is a global athletic footwear, apparel and equipment company headquartered near Beaverton, Oregon. The company designs, develops and markets products under the NIKE, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.

NIKE's offerings include athletic and casual footwear, sportswear, apparel, accessories and athletic equipment. The company distributes its products through company-owned retail stores, digital platforms, wholesale partners and independent distributors.

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