Farther Finance Advisors LLC Increases Position in NIKE, Inc. (NYSE:NKE)

Farther Finance Advisors LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 13.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,840 shares of the footwear maker’s stock after acquiring an additional 3,477 shares during the quarter. Farther Finance Advisors LLC’s holdings in NIKE were worth $2,293,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Annapolis Financial Services LLC grew its position in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares during the period. True Wealth Design LLC increased its stake in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of NIKE in the 4th quarter worth approximately $33,000. Core Wealth Advisors Inc. lifted its stake in NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the last quarter. Finally, Gold Investment Management Ltd. bought a new position in NIKE during the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the subject of several research reports. Barclays downgraded NIKE from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $109.00 to $80.00 in a research note on Friday, June 28th. TD Cowen cut their price target on NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a report on Thursday, July 25th. HSBC lowered their price target on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Jefferies Financial Group cut their target price on NIKE from $90.00 to $80.00 in a research note on Friday, July 12th. Finally, Morgan Stanley restated an “equal weight” rating and set a $79.00 target price (down from $114.00) on shares of NIKE in a report on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.59.

NIKE Trading Up 0.1 %

NYSE NKE traded up $0.06 during trading on Friday, hitting $83.32. The stock had a trading volume of 13,755,265 shares, compared to its average volume of 11,371,491. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a market capitalization of $124.93 billion, a PE ratio of 22.34, a PEG ratio of 2.19 and a beta of 1.01. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average price of $77.91 and a 200 day moving average price of $89.49.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 earnings per share. As a group, equities research analysts forecast that NIKE, Inc. will post 3.1 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.

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.