IFG Advisors LLC Grows Holdings in NIKE, Inc. (NYSE:NKE)

IFG Advisors LLC raised its stake in NIKE, Inc. (NYSE:NKE) by 5.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,759 shares of the footwear maker’s stock after buying an additional 239 shares during the period. IFG Advisors LLC’s holdings in NIKE were worth $421,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Aprio Wealth Management LLC boosted its stake in NIKE by 19.0% in the first quarter. Aprio Wealth Management LLC now owns 2,257 shares of the footwear maker’s stock worth $212,000 after buying an additional 360 shares in the last quarter. Sanders Morris Harris LLC grew its holdings in shares of NIKE by 11.0% during the 1st quarter. Sanders Morris Harris LLC now owns 4,330 shares of the footwear maker’s stock valued at $407,000 after purchasing an additional 430 shares during the last quarter. &PARTNERS purchased a new position in NIKE in the 1st quarter worth $712,000. International Assets Investment Management LLC lifted its stake in NIKE by 36.8% in the first quarter. International Assets Investment Management LLC now owns 4,890 shares of the footwear maker’s stock worth $453,000 after purchasing an additional 1,315 shares during the last quarter. Finally, Unique Wealth LLC boosted its position in NIKE by 9.0% during the first quarter. Unique Wealth LLC now owns 4,567 shares of the footwear maker’s stock valued at $429,000 after buying an additional 379 shares during the period. 64.25% of the stock is owned by institutional investors.

Insider Activity at NIKE

In other NIKE 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 owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NKE has been the subject of several analyst reports. Evercore ISI dropped their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Wedbush dropped their target price on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Royal Bank of Canada reduced their price target on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 2nd. Finally, Raymond James restated a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.56.

NIKE Stock Performance

Shares of NKE opened at $82.92 on Friday. The company has a market cap of $125.16 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 1.96 and a beta of 1.02. The business’s fifty day simple moving average is $82.64 and its two-hundred day simple moving average is $85.32. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period last year, the firm posted $0.94 earnings per share. NIKE’s revenue was down 10.4% compared to the same quarter last year. Research analysts anticipate that NIKE, Inc. will post 2.8 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.78%. NIKE’s payout ratio is 39.68%.

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.