OneDigital Investment Advisors LLC Increases Holdings in NIKE, Inc. $NKE

Key Points

• OneDigital Investment Advisors increased its NIKE stake by 32.8% in the second quarter, adding 60,375 shares to own 244,296 shares valued at approximately $10.0 million. Institutional investors collectively own 64.25% of NKE.
• Analyst sentiment remains mixed: NIKE has a consensus “Hold” rating and a $53.53 price target, while several firms recently lowered their targets and Zacks Research downgraded the stock to “Strong Sell.”
• NIKE shares opened at $40.73, near their 12-month low, despite the latest quarterly results topping estimates with $0.20 EPS and $10.97 billion in revenue. The company also announced a quarterly dividend of $0.41 per share, representing a 4.0% annualized yield.

OneDigital Investment Advisors LLC raised its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 32.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 244,296 shares of the footwear maker's stock after acquiring an additional 60,375 shares during the quarter. OneDigital Investment Advisors LLC's holdings in NIKE were worth $10,028,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in NKE. Scarborough Advisors LLC bought a new stake in shares of NIKE during the 1st quarter valued at $25,000. Cornerstone Financial Management LLC bought a new stake in NIKE during the fourth quarter worth about $26,000. Sankala Group LLC purchased a new stake in shares of NIKE in the 4th quarter valued at $26,000. Meeder Asset Management Inc. lifted its position in NIKE by 108.4% in the first quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker's stock valued at $29,000 after purchasing an additional 285 shares during the last quarter. Finally, J.Safra Asset Management Corp bought a new stake in shares of NIKE in the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analyst Upgrades and Downgrades

NKE has been the subject of several research reports. Barclays decreased their target price on NIKE from $67.00 to $52.00 and set an "overweight" rating for the company in a research report on Wednesday, July 1st. Zacks Research downgraded NIKE from a "hold" rating to a "strong sell" rating in a research note on Monday, June 1st. Rothschild & Co Redburn decreased their price objective on shares of NIKE from $45.00 to $37.00 and set a "sell" rating on the stock in a research report on Friday, July 17th. Stifel Nicolaus set a $45.00 price target on NIKE and gave the stock a "hold" rating in a research report on Wednesday, July 1st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of NIKE in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, NIKE has a consensus rating of "Hold" and a consensus price target of $53.53.

Insider Transactions at NIKE

In other news, EVP Philip Mccartney sold 17,398 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64. Following the completion of the transaction, the executive vice president directly owned 53,133 shares of the company's stock, valued at approximately $2,453,681.94. The trade was a 24.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Venkatesh Alagirisamy sold 890 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total transaction of $37,024.00. Following the completion of the sale, the chief operating officer directly owned 74,820 shares in the company, valued at approximately $3,112,512. This represents a 1.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 26,142 shares of company stock valued at $1,169,380. Corporate insiders own 1.10% of the company's stock.

NIKE Stock Performance

NKE opened at $40.73 on Monday. The firm has a 50 day moving average of $42.90 and a two-hundred day moving average of $48.61. The firm has a market capitalization of $60.42 billion, a PE ratio of 19.49, a P/E/G ratio of 1.81 and a beta of 1.11. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. NIKE, Inc. has a 12-month low of $40.00 and a 12-month high of $80.17.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping the consensus estimate of $0.11 by $0.09. The firm 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%.NIKE's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the company earned $0.14 earnings per share. On average, analysts anticipate that NIKE, Inc. will post 1.74 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 1st. NIKE's dividend payout ratio (DPR) is 78.47%.

About NIKE

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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