Mount Yale Investment Advisors LLC Raises Stock Position in NIKE, Inc. (NYSE:NKE)

Mount Yale Investment Advisors LLC grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 558.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,957 shares of the footwear maker’s stock after buying an additional 50,008 shares during the period. Mount Yale Investment Advisors LLC’s holdings in NIKE were worth $5,212,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NKE. Advisors Asset Management Inc. increased its holdings in NIKE by 86.0% in the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after acquiring an additional 9,689 shares in the last quarter. FORA Capital LLC purchased a new position in shares of NIKE during the first quarter valued at $3,412,000. Cetera Advisors LLC grew its stake in NIKE by 85.5% in the first quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock valued at $8,298,000 after purchasing an additional 40,704 shares during the last quarter. Koshinski Asset Management Inc. purchased a new position in NIKE in the first quarter valued at about $713,000. Finally, New Mexico Educational Retirement Board boosted its holdings in NIKE by 15.7% in the first quarter. New Mexico Educational Retirement Board now owns 74,248 shares of the footwear maker’s stock worth $6,978,000 after acquiring an additional 10,100 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s 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 transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $79.05 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The stock has a market capitalization of $118.52 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The business’s fifty day moving average price is $82.86 and its 200 day moving average price is $85.10.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 earnings per share. Equities research analysts forecast that NIKE, Inc. will post 2.78 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.87%. NIKE’s dividend payout ratio is 42.41%.

Analyst Ratings Changes

A number of research analysts have issued reports on NKE shares. Wedbush decreased their price target on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Royal Bank of Canada decreased their price target on NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. cut their price target on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Evercore ISI dropped their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.56.

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.