NIKE, Inc. (NYSE:NKE) Shares Acquired by Malaga Cove Capital LLC

Malaga Cove Capital LLC increased its position in shares of NIKE, Inc. (NYSE:NKE) by 60.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,455 shares of the footwear maker’s stock after acquiring an additional 3,178 shares during the quarter. Malaga Cove Capital LLC’s holdings in NIKE were worth $637,000 as of its most recent filing with the SEC.

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

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The stock was bought 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 owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated 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 completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

NIKE Price Performance

NKE opened at $79.50 on Tuesday. The company has a market capitalization of $119.20 billion, a P/E ratio of 21.31, a PEG ratio of 2.11 and a beta of 1.02. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a 50-day moving average of $76.99 and a 200-day moving average of $88.38. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter last year, the business posted $0.66 EPS. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities analysts expect that NIKE, Inc. will post 3.1 EPS for the current fiscal year.

NIKE Dividend Announcement

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 issued a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.86%. NIKE’s dividend payout ratio (DPR) is 39.68%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NKE shares. Barclays lowered shares of NIKE from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $109.00 to $80.00 in a report on Friday, June 28th. UBS Group restated a “neutral” rating and set a $78.00 price target on shares of NIKE in a research note on Friday, June 28th. Telsey Advisory Group reduced their price objective on NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. TD Cowen dropped their target price on shares of NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group decreased their price objective on shares of NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Fourteen investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.59.

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.