Fairfield Financial Advisors LTD Purchases New Position in NIKE, Inc. (NYSE:NKE)

Fairfield Financial Advisors LTD acquired a new position in shares of NIKE, Inc. (NYSE:NKE) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,353 shares of the footwear maker’s stock, valued at approximately $102,000.

A number of other institutional investors also recently made changes to their positions in NKE. Cim LLC bought a new stake in NIKE in the 4th quarter valued at $14,275,000. TKG Advisors LLC bought a new stake in shares of NIKE in the fourth quarter valued at about $1,012,000. Spartan Planning & Wealth Management acquired a new position in shares of NIKE in the fourth quarter valued at about $182,000. CreativeOne Wealth LLC increased its position in NIKE by 16.1% during the fourth quarter. CreativeOne Wealth LLC now owns 20,542 shares of the footwear maker’s stock worth $2,230,000 after acquiring an additional 2,846 shares during the period. Finally, Edmond DE Rothschild Holding S.A. raised its stake in NIKE by 27.9% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 113,299 shares of the footwear maker’s stock worth $12,301,000 after purchasing an additional 24,686 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Insiders Place Their Bets

In other 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 value of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction 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 sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The disclosure for this purchase can be found here. Company insiders own 0.50% of the company’s stock.

NIKE Stock Performance

NYSE:NKE opened at $79.01 on Monday. The stock’s 50-day moving average is $77.23 and its 200-day moving average is $87.64. NIKE, Inc. has a 1-year low of $70.75 and a 1-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 stock has a market cap of $118.46 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its earnings results 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. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 EPS. Equities research analysts anticipate that NIKE, Inc. will post 3.06 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.87%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Analyst Ratings Changes

NKE has been the topic of a number of analyst reports. Telsey Advisory Group decreased their target price on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Citigroup lowered their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. HSBC cut their target price on NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Wells Fargo & Company decreased their price target on NIKE from $115.00 to $92.00 and set an “overweight” rating on the stock in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $83.00 price objective (down previously from $116.00) on shares of NIKE in a research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.59.

NIKE 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.