Turtle Creek Wealth Advisors LLC Raises Position in NIKE, Inc. $NKE

Key Points

• Turtle Creek Wealth Advisors LLC has increased its stake in NIKE, Inc. by 26.8% during the 2nd quarter, now owning 19,048 shares valued at approximately $1.35 million.
• Insider trading activity included EVP Treasure Heinle selling 4,300 shares and Chairman Mark G. Parker selling 86,078 shares, indicating a decrease in their ownership.
• NIKE's recent earnings report showed an EPS of $0.49, surpassing estimates, with quarterly revenue reaching $11.72 billion, marking a 1.0% increase year-over-year.

Turtle Creek Wealth Advisors LLC lifted its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 26.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,048 shares of the footwear maker's stock after purchasing an additional 4,021 shares during the period. Turtle Creek Wealth Advisors LLC's holdings in NIKE were worth $1,353,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NKE. Stone House Investment Management LLC purchased a new stake in shares of NIKE during the 1st quarter worth approximately $25,000. Mascoma Wealth Management LLC purchased a new stake in shares of NIKE during the 2nd quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC increased its stake 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 worth $28,000 after purchasing an additional 362 shares during the last quarter. Saudi Central Bank purchased a new stake in shares of NIKE during the 1st quarter worth approximately $30,000. Finally, Matrix Trust Co boosted its holdings in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insiders Place Their Bets

In other news, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares of the company's stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on 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 sale, the chairman directly owned 744,988 shares of the company's stock, valued at $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.80% of the company's stock.

NIKE Stock Up 1.2%

Shares of NYSE:NKE opened at $68.45 on Thursday. The firm has a fifty day moving average price of $73.38 and a two-hundred day moving average price of $67.34. 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, Inc. has a one year low of $52.28 and a one year high of $84.76. The company has a market cap of $101.18 billion, a price-to-earnings ratio of 35.10, a PEG ratio of 2.49 and a beta of 1.29.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 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 firm had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same period last year, the firm earned $0.70 EPS. The business's quarterly revenue was up 1.0% compared to the same quarter last year. Analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE's payout ratio is currently 82.05%.

Analyst Ratings Changes

Several research firms recently commented on NKE. BTIG Research began coverage on shares of NIKE in a report on Tuesday. They issued a "buy" rating and a $100.00 price objective for the company. Evercore ISI cut their price objective on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a report on Tuesday, June 24th. Cowen raised shares of NIKE from a "hold" rating to a "buy" rating in a report on Wednesday, September 10th. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Finally, JPMorgan Chase & Co. raised their price objective on shares of NIKE from $93.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $82.21.

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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