Douglas Lane & Associates LLC Acquires 414 Shares of NIKE, Inc. (NYSE:NKE)

Douglas Lane & Associates LLC grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 8.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,141 shares of the footwear maker’s stock after acquiring an additional 414 shares during the period. Douglas Lane & Associates LLC’s holdings in NIKE were worth $387,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. City State Bank raised its stake in NIKE by 188.5% during the second quarter. City State Bank now owns 3,367 shares of the footwear maker’s stock worth $254,000 after buying an additional 2,200 shares during the last quarter. Versant Capital Management Inc raised its stake in NIKE by 36.8% during the second quarter. Versant Capital Management Inc now owns 2,880 shares of the footwear maker’s stock worth $217,000 after buying an additional 774 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in NIKE during the second quarter worth $977,000. HBW Advisory Services LLC grew its holdings in NIKE by 10.9% in the second quarter. HBW Advisory Services LLC now owns 39,234 shares of the footwear maker’s stock worth $2,957,000 after purchasing an additional 3,845 shares during the period. Finally, Hudson Valley Investment Advisors Inc. ADV grew its holdings in NIKE by 19.5% in the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 8,299 shares of the footwear maker’s stock worth $625,000 after purchasing an additional 1,356 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NYSE NKE traded up $1.08 during midday trading on Tuesday, hitting $72.50. The company’s stock had a trading volume of 13,454,024 shares, compared to its average volume of 11,474,616. The stock has a fifty day moving average price of $83.31 and a 200 day moving average price of $92.37. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $109.43 billion, a price-to-earnings ratio of 19.54, a P/E/G ratio of 1.92 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the previous year, the firm posted $0.66 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, research analysts forecast that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 2.04%. NIKE’s dividend payout ratio is currently 39.68%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 278,660 shares of company stock valued at $23,735,833. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

NKE has been the subject of a number of research reports. Royal Bank of Canada reduced their price target on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a report on Tuesday, July 2nd. Citigroup reduced their price target on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a report on Friday, June 28th. Telsey Advisory Group reduced their price target on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Bank of America reduced their price target on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, UBS Group restated a “neutral” rating and issued a $78.00 price target on shares of NIKE in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $96.30.

About NIKE

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.