NIKE, Inc. $NKE Shares Bought by Mengis Capital Management Inc.

Key Points

• Mengis Capital Management Inc. increased its holdings in NIKE, Inc. by 193.1% during the second quarter, now owning 35,369 shares valued at approximately $2.5 million.
• Insiders sold a total of 200,378 shares worth nearly $14.8 million over the last 90 days, indicating a 12.76% decrease in EVP Treasure Heinle's position after selling 4,300 shares.
• Analysts have a consensus rating of "Moderate Buy" for NIKE stock, with a price target averaging $81.57, reflecting optimism about the company's growth potential.

Mengis Capital Management Inc. boosted its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 193.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 35,369 shares of the footwear maker's stock after acquiring an additional 23,300 shares during the quarter. Mengis Capital Management Inc.'s holdings in NIKE were worth $2,513,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mascoma Wealth Management LLC acquired a new position in shares of NIKE in the 2nd quarter valued at about $26,000. Stone House Investment Management LLC acquired a new position in shares of NIKE in the 1st quarter valued at about $25,000. Halbert Hargrove Global Advisors LLC lifted its holdings in shares of NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker's stock valued at $28,000 after buying an additional 362 shares during the period. Matrix Trust Co lifted its holdings in shares of NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock valued at $31,000 after buying an additional 153 shares during the period. Finally, Saudi Central Bank acquired a new position in shares of NIKE in the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Activity at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of the business's 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. The trade was a 12.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 200,378 shares of company stock worth $14,794,264. Insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

NKE has been the subject of several analyst reports. Stifel Nicolaus set a $68.00 price objective on NIKE and gave the company a "hold" rating in a report on Wednesday, October 1st. Sanford C. Bernstein reissued a "buy" rating and issued a $90.00 price objective on shares of NIKE in a report on Wednesday, October 1st. Royal Bank Of Canada raised NIKE from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from $76.00 to $90.00 in a report on Thursday, September 18th. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Finally, DZ Bank upgraded NIKE from a "hold" rating to a "buy" rating in a research note on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $81.57.

NIKE Trading Down 1.4%

Shares of NIKE stock opened at $68.09 on Friday. The stock has a market cap of $100.56 billion, a P/E ratio of 34.92, a P/E/G ratio of 2.52 and a beta of 1.29. The stock's 50 day simple moving average is $73.99 and its 200-day simple moving average is $67.29. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $84.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.22. The business 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 revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 EPS. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

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