NIKE, Inc. $NKE Shares Purchased by Columbia Asset Management

Key Points

• Columbia Asset Management increased its holdings in NIKE, Inc. by 4.9% in Q2, now owning 89,002 shares, valued at approximately $6.32 million.
• NIKE reported earnings of $0.49 per share for the last quarter, surpassing expectations of $0.27, with revenues of $11.72 billion.
• The company announced a quarterly dividend of $0.40 per share, resulting in an annualized yield of 2.3% and a payout ratio of 74.07%.

Columbia Asset Management boosted its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,002 shares of the footwear maker's stock after acquiring an additional 4,127 shares during the quarter. NIKE accounts for 1.2% of Columbia Asset Management's portfolio, making the stock its 19th largest position. Columbia Asset Management's holdings in NIKE were worth $6,323,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Powers Advisory Group LLC increased its position in NIKE by 10.0% in the 2nd quarter. Powers Advisory Group LLC now owns 5,049 shares of the footwear maker's stock valued at $359,000 after acquiring an additional 460 shares during the period. Union Bancaire Privee UBP SA increased its position in NIKE by 158.6% in the 2nd quarter. Union Bancaire Privee UBP SA now owns 750 shares of the footwear maker's stock valued at $53,000 after acquiring an additional 460 shares during the period. Chicago Capital LLC increased its position in shares of NIKE by 22.8% during the 2nd quarter. Chicago Capital LLC now owns 18,699 shares of the footwear maker's stock valued at $1,328,000 after purchasing an additional 3,475 shares during the period. Halbert Hargrove Global Advisors LLC increased 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 valued at $28,000 after purchasing an additional 362 shares during the period. Finally, HCR Wealth Advisors increased its position in shares of NIKE by 4.3% during the 2nd quarter. HCR Wealth Advisors now owns 8,299 shares of the footwear maker's stock valued at $590,000 after purchasing an additional 340 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the firm's stock in a transaction dated 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 transaction, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.80% of the company's stock.

NIKE Price Performance

NKE opened at $69.72 on Wednesday. The stock has a market cap of $102.97 billion, a price-to-earnings ratio of 32.28, a PEG ratio of 2.54 and a beta of 1.24. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $89.64. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average price of $74.78 and a 200 day moving average price of $67.27.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.22. The firm had revenue of $11.72 billion during the quarter, compared to analysts' expectations of $10.96 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 earnings per share. Analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. 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 2.3%. NIKE's dividend payout ratio (DPR) is presently 74.07%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NKE shares. Telsey Advisory Group lifted their price target on NIKE from $70.00 to $75.00 and gave the company a "market perform" rating in a research report on Tuesday, September 23rd. Morgan Stanley lifted their target price on NIKE from $64.00 to $70.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 23rd. Argus upgraded NIKE to a "buy" rating in a report on Sunday, July 6th. Cowen upgraded NIKE from a "hold" rating to a "buy" rating in a report on Wednesday, September 10th. Finally, JPMorgan Chase & Co. upgraded NIKE from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $64.00 to $93.00 in a report on Monday, July 28th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $79.62.

NIKE 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.