Morningstar Investment Management LLC Buys Shares of 9,621 NIKE, Inc. $NKE

Morningstar Investment Management LLC bought a new stake in shares of NIKE, Inc. (NYSE:NKE) during the 2nd quarter, Holdings Channel.com reports. The fund bought 9,621 shares of the footwear maker’s stock, valued at approximately $683,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stone House Investment Management LLC bought a new stake in NIKE during the 1st quarter valued at $25,000. Mascoma Wealth Management LLC bought a new stake in NIKE during the 2nd quarter valued at $26,000. Halbert Hargrove Global Advisors LLC boosted its position in NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 362 shares in the last quarter. Saudi Central Bank bought a new stake in NIKE during the 1st quarter valued at $30,000. Finally, Matrix Trust Co boosted its position in NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 153 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Cowen raised NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, September 10th. Jefferies Financial Group reissued a “buy” rating and issued a $115.00 price objective on shares of NIKE in a research report on Monday, September 29th. Zacks Research raised NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. JPMorgan Chase & Co. raised their price objective on NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Finally, Weiss Ratings raised NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.57.

Insiders Place Their Bets

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE 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 transaction, the chairman owned 842,361 shares of the company’s stock, valued at $60,894,276.69. The trade was a 11.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 200,378 shares of company stock valued at $14,794,264 in the last 90 days. 0.80% of the stock is currently owned by company insiders.

NIKE Stock Performance

Shares of NKE stock opened at $67.39 on Tuesday. The firm has a market capitalization of $99.61 billion, a price-to-earnings ratio of 34.56, a price-to-earnings-growth ratio of 2.38 and a beta of 1.29. 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 has a fifty day moving average of $73.66 and a 200 day moving average of $67.33. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $84.76.

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

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a $0.40 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.4%. NIKE’s dividend payout ratio (DPR) is 82.05%.

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.