Beacon Financial Advisory LLC Buys 3,815 Shares of NIKE, Inc. $NKE

Beacon Financial Advisory LLC lifted its stake in NIKE, Inc. (NYSE:NKE) by 98.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,695 shares of the footwear maker’s stock after purchasing an additional 3,815 shares during the period. Beacon Financial Advisory LLC’s holdings in NIKE were worth $547,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Spire Wealth Management raised its holdings in NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after purchasing an additional 416 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of NIKE by 0.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after buying an additional 5,601 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of NIKE during the first quarter worth approximately $25,963,000. BROOKFIELD Corp ON lifted its holdings in NIKE by 36.2% in the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock valued at $41,808,000 after buying an additional 175,000 shares during the period. Finally, Olstein Capital Management L.P. boosted its stake in NIKE by 42.2% in the first quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker’s stock valued at $5,777,000 after acquiring an additional 27,000 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Down 3.4%

NYSE:NKE opened at $72.01 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The business’s 50-day simple moving average is $74.62 and its 200-day simple moving average is $67.24. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $84.76. The stock has a market capitalization of $106.34 billion, a PE ratio of 36.93, a price-to-earnings-growth ratio of 2.64 and a beta of 1.29.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter last year, the business posted $0.70 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. NIKE’s dividend payout ratio is presently 82.05%.

Analyst Ratings Changes

Several brokerages have commented on NKE. Sanford C. Bernstein reiterated a “buy” rating and set a $90.00 target price on shares of NIKE in a research report on Wednesday, October 1st. Morgan Stanley set a $72.00 price objective on NIKE and gave the stock a “positive” rating in a research note on Wednesday. Robert W. Baird increased their target price on NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, June 27th. Stifel Nicolaus set a $68.00 target price on NIKE and gave the stock a “hold” rating in a report on Wednesday. Finally, Argus raised NIKE to a “buy” rating in a research note on Sunday, July 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $81.57.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated 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 sale, the chairman owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.80% of the stock is currently owned by corporate insiders.

About NIKE

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.