KG&L Capital Management LLC Raises Stock Holdings in NIKE, Inc. (NYSE:NKE)

KG&L Capital Management LLC grew its stake in NIKE, Inc. (NYSE:NKE) by 34.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,054 shares of the footwear maker’s stock after buying an additional 1,302 shares during the period. KG&L Capital Management LLC’s holdings in NIKE were worth $381,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Tennessee Valley Asset Management Partners purchased a new position in shares of NIKE in the 4th quarter worth about $51,000. J.W. Cole Advisors Inc. grew its position in NIKE by 118.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 9,286 shares of the footwear maker’s stock valued at $1,008,000 after acquiring an additional 5,035 shares during the last quarter. Verdence Capital Advisors LLC grew its position in NIKE by 2.9% during the fourth quarter. Verdence Capital Advisors LLC now owns 4,144 shares of the footwear maker’s stock valued at $450,000 after acquiring an additional 116 shares during the last quarter. CWM LLC raised its stake in shares of NIKE by 19.2% during the fourth quarter. CWM LLC now owns 40,188 shares of the footwear maker’s stock worth $4,363,000 after acquiring an additional 6,485 shares in the last quarter. Finally, GUNN & Co INVESTMENT MANAGEMENT INC. bought a new stake in shares of NIKE in the 4th quarter worth approximately $250,000. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 0.4 %

NIKE stock traded up $0.34 during trading hours on Thursday, hitting $84.34. The stock had a trading volume of 2,206,421 shares, compared to its average volume of 11,441,946. The stock’s 50-day moving average price is $79.47 and its 200-day moving average price is $90.47. The stock has a market capitalization of $127.30 billion, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $12.86 billion. During the same period in the previous year, the business earned $0.66 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities research analysts anticipate that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is 39.68%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Holmes Swan acquired 2,941 shares of NIKE 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 transaction, the director now 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.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Raymond James reiterated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Morgan Stanley reiterated an “equal weight” rating and issued a $79.00 price objective (down previously from $114.00) on shares of NIKE in a report on Friday, June 28th. BMO Capital Markets dropped their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Barclays cut NIKE from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $109.00 to $80.00 in a research note on Friday, June 28th. Finally, Guggenheim dropped their price objective on NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $96.59.

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.