Miller Financial Services LLC Takes Position in NIKE, Inc. $NKE

Miller Financial Services LLC purchased a new position in NIKE, Inc. (NYSE:NKE) during the second quarter, Holdings Channel.com reports. The firm purchased 5,422 shares of the footwear maker’s stock, valued at approximately $385,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of NKE. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of NIKE by 43.0% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 585,000 shares of the footwear maker’s stock worth $41,792,000 after buying an additional 176,000 shares during the period. Saturna Capital Corp raised its holdings in shares of NIKE by 47.7% during the second quarter. Saturna Capital Corp now owns 155,055 shares of the footwear maker’s stock valued at $11,015,000 after acquiring an additional 50,055 shares during the period. Empirical Finance LLC lifted its position in shares of NIKE by 0.6% in the 2nd quarter. Empirical Finance LLC now owns 42,963 shares of the footwear maker’s stock valued at $3,052,000 after acquiring an additional 253 shares in the last quarter. Sierra Legacy Group boosted its stake in NIKE by 22.5% in the 2nd quarter. Sierra Legacy Group now owns 16,354 shares of the footwear maker’s stock worth $1,162,000 after purchasing an additional 3,000 shares during the period. Finally, TD Waterhouse Canada Inc. grew its position in NIKE by 9.5% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 323,901 shares of the footwear maker’s stock worth $23,762,000 after purchasing an additional 27,995 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Up 0.5%

NYSE:NKE opened at $62.79 on Thursday. The stock’s 50 day moving average price is $67.82 and its 200 day moving average price is $68.85. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44. The company has a market capitalization of $92.81 billion, a P/E ratio of 32.20, a P/E/G ratio of 2.41 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19.

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

Insiders Place Their Bets

In related news, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their position. The sale was disclosed in a legal filing 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 Friday, November 14th. The stock was sold at an average price of $64.80, for a total value of $5,577,854.40. Following the sale, the chairman directly owned 647,615 shares of the company’s stock, valued at $41,965,452. The trade was a 11.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Sanford C. Bernstein restated a “buy” rating and issued a $90.00 target price on shares of NIKE in a report on Monday, October 13th. Stifel Nicolaus set a $68.00 price objective on NIKE and gave the stock a “hold” rating in a research report on Wednesday, October 1st. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of NIKE in a research note on Friday, October 10th. UBS Group set a $71.00 price target on shares of NIKE and gave the stock a “neutral” rating in a research report on Friday, September 19th. Finally, Needham & Company LLC restated a “buy” rating and set a $78.00 price target on shares of NIKE in a report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.24.

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.