Chicago Partners Investment Group LLC Buys 643 Shares of NIKE, Inc. $NKE

Chicago Partners Investment Group LLC lifted its stake in NIKE, Inc. (NYSE:NKE) by 11.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,100 shares of the footwear maker’s stock after purchasing an additional 643 shares during the period. Chicago Partners Investment Group LLC’s holdings in NIKE were worth $468,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after acquiring an additional 4,957,494 shares in the last quarter. Wellington Management Group LLP grew its holdings in NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after acquiring an additional 9,043,180 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after acquiring an additional 20,688,013 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of NIKE by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker’s stock valued at $1,332,331,000 after buying an additional 620,214 shares in the last quarter. Finally, Flossbach Von Storch SE boosted its holdings in shares of NIKE by 24.0% in the 1st quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker’s stock valued at $652,995,000 after buying an additional 1,988,547 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Activity at NIKE

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

Analyst Ratings Changes

A number of research firms have recently weighed in on NKE. Weiss Ratings upgraded shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Robert W. Baird raised their price target on shares of NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, June 27th. KeyCorp set a $90.00 price target on shares of NIKE and gave the company an “overweight” rating in a report on Thursday, October 2nd. Finally, Morgan Stanley set a $72.00 price target on shares of NIKE and gave the company a “positive” rating in a report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.21.

NIKE Stock Performance

Shares of NIKE stock opened at $69.03 on Thursday. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $102.03 billion, a P/E ratio of 35.40, a PEG ratio of 2.52 and a beta of 1.29. The company has a 50 day moving average price of $72.67 and a 200 day moving average price of $67.57.

NIKE (NYSE:NKE) last posted its quarterly 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. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same period last year, the firm posted $0.70 EPS. NIKE’s revenue for the quarter was up 1.0% compared to the same quarter last year. Sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current 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 issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s payout ratio is 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.