NIKE, Inc. $NKE Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in NIKE, Inc. (NYSE:NKE) by 35.4% in the second quarter, Holdings Channel.com reports. The firm owned 28,268 shares of the footwear maker’s stock after acquiring an additional 7,391 shares during the quarter. GAMMA Investing LLC’s holdings in NIKE were worth $2,008,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after buying an additional 160,980 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in NIKE by 10.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker’s stock valued at $14,447,000 after buying an additional 17,888 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in NIKE by 22.0% in the fourth quarter. Sunbelt Securities Inc. now owns 4,259 shares of the footwear maker’s stock valued at $318,000 after buying an additional 768 shares in the last quarter. Forum Financial Management LP increased its holdings in NIKE by 14.1% in the fourth quarter. Forum Financial Management LP now owns 6,431 shares of the footwear maker’s stock valued at $487,000 after buying an additional 795 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in NIKE by 75.1% in the fourth quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker’s stock valued at $40,835,000 after buying an additional 231,417 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 0.6%

Shares of NYSE NKE opened at $71.29 on Tuesday. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The firm has a fifty day moving average of $75.16 and a 200-day moving average of $67.38. The stock has a market capitalization of $105.29 billion, a PE ratio of 33.01, a P/E/G ratio of 2.57 and a beta of 1.24. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.99 EPS. On average, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. NIKE’s payout ratio is presently 74.07%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NKE shares. Needham & Company LLC increased their target price on shares of NIKE from $66.00 to $78.00 and gave the company a “buy” rating in a report on Friday, June 27th. UBS Group set a $71.00 target price on shares of NIKE and gave the company a “neutral” rating in a report on Friday. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of NIKE in a report on Monday, August 18th. Royal Bank Of Canada raised shares of NIKE from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $76.00 to $90.00 in a report on Thursday, September 18th. Finally, Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.04.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares in the company, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.80% of the company’s stock.

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.