Chicago Capital LLC Raises Stock Position in NIKE, Inc. $NKE

Chicago Capital LLC boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 22.8% in the second quarter, HoldingsChannel.com reports. The fund owned 18,699 shares of the footwear maker’s stock after purchasing an additional 3,475 shares during the period. Chicago Capital LLC’s holdings in NIKE were worth $1,328,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Caldwell Sutter Capital Inc. raised its position in shares of NIKE by 6.3% during the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock worth $170,000 after purchasing an additional 142 shares during the last quarter. Westmount Partners LLC raised its holdings in shares of NIKE by 2.9% during the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock valued at $367,000 after acquiring an additional 146 shares during the last quarter. HB Wealth Management LLC lifted its position in shares of NIKE by 0.3% in the second quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock valued at $3,695,000 after acquiring an additional 147 shares in the last quarter. Matrix Trust Co raised its stake in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 shares during the last quarter. Finally, Summit Financial Strategies Inc. lifted its holdings in NIKE by 3.8% in the 2nd quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker’s stock valued at $303,000 after purchasing an additional 155 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

NKE opened at $69.72 on Wednesday. The firm has a market cap of $102.97 billion, a price-to-earnings ratio of 32.28, a PEG ratio of 2.54 and a beta of 1.24. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock’s 50-day moving average price is $74.78 and its 200 day moving average price is $67.27. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $89.64.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the prior year, the company earned $0.70 earnings per share. The business’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is currently 74.07%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of NIKE in a report on Monday, August 18th. Barclays upped their price objective on shares of NIKE from $64.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, September 18th. Robert W. Baird raised their target price on shares of NIKE from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, June 27th. Royal Bank Of Canada upgraded NIKE from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $76.00 to $90.00 in a research report on Thursday, September 18th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $77.00 to $71.00 and set a “buy” rating on the stock in a research report on Friday, June 20th. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.62.

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.