PARK CIRCLE Co Raises Stock Position in NIKE, Inc. $NKE

PARK CIRCLE Co boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 16.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,400 shares of the footwear maker’s stock after purchasing an additional 200 shares during the period. PARK CIRCLE Co’s holdings in NIKE were worth $99,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Stone House Investment Management LLC acquired a new stake in NIKE during the first quarter worth about $25,000. Mascoma Wealth Management LLC acquired a new stake in shares of NIKE during the 2nd quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC grew its stake in shares of NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares during the period. Saudi Central Bank purchased a new position in shares of NIKE during the 1st quarter valued at approximately $30,000. Finally, Matrix Trust Co lifted its stake in shares of 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 period. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares of the company’s stock, valued at $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 200,378 shares of company stock valued at $14,794,264. 0.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NKE shares. Needham & Company LLC restated a “buy” rating and set a $78.00 price target on shares of NIKE in a research report on Wednesday, October 1st. JPMorgan Chase & Co. lifted their price target on NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Royal Bank Of Canada upgraded NIKE from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $76.00 to $90.00 in a research report on Thursday, September 18th. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Finally, Hsbc Global Res raised NIKE from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $81.57.

NIKE Trading Up 0.3%

Shares of NKE stock opened at $69.10 on Thursday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $84.76. The company’s 50-day moving average price is $74.12 and its 200-day moving average price is $67.29. The stock has a market cap of $102.05 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 2.52 and a beta of 1.29.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The company had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. NIKE’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.70 earnings per share. As a group, equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio is presently 82.05%.

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.