Freedom Investment Management Inc. Invests $262,000 in NIKE, Inc. $NKE

Freedom Investment Management Inc. bought a new position in NIKE, Inc. (NYSE:NKE) during the second quarter, HoldingsChannel.com reports. The fund bought 3,682 shares of the footwear maker’s stock, valued at approximately $262,000.

A number of other large investors have also recently made changes to their positions in the business. Forum Financial Management LP increased its holdings in shares of NIKE by 115.5% in the 2nd quarter. Forum Financial Management LP now owns 10,016 shares of the footwear maker’s stock worth $712,000 after buying an additional 5,368 shares during the last quarter. Greatmark Investment Partners Inc. bought a new stake in shares of NIKE in the 2nd quarter worth about $218,000. Brookstone Capital Management boosted its stake in shares of NIKE by 15.7% during the 2nd quarter. Brookstone Capital Management now owns 151,152 shares of the footwear maker’s stock worth $10,738,000 after purchasing an additional 20,557 shares during the period. D.A. Davidson & CO. boosted its stake in shares of NIKE by 35.4% during the 2nd quarter. D.A. Davidson & CO. now owns 143,601 shares of the footwear maker’s stock worth $10,201,000 after purchasing an additional 37,537 shares during the period. Finally, Gables Capital Management Inc. boosted its stake in shares of NIKE by 36.7% during the 2nd quarter. Gables Capital Management Inc. now owns 3,725 shares of the footwear maker’s stock worth $265,000 after purchasing an additional 1,000 shares during the period. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

NIKE stock opened at $68.51 on Tuesday. The firm has a 50-day moving average of $72.20 and a two-hundred day moving average of $68.01. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44. The stock has a market cap of $101.26 billion, a price-to-earnings ratio of 35.13, a price-to-earnings-growth ratio of 2.55 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.

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

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a $0.40 dividend. 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 dividend payout ratio is presently 82.05%.

Analysts Set New Price Targets

NKE has been the subject of a number of recent analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of NIKE in a research note on Friday, October 10th. TD Cowen raised shares of NIKE from a “hold” rating to a “buy” rating and lifted their price target for the stock from $62.00 to $85.00 in a research note on Wednesday, September 10th. JPMorgan Chase & Co. lifted their price target on shares of NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $78.00 price target on shares of NIKE in a research note 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 assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.21.

Insider Activity at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction that occurred 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 directly owned 744,988 shares of the company’s stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.

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.