Jones Financial Companies Lllp Invests $1.97 Million in NIKE, Inc. $NKE

Jones Financial Companies Lllp bought a new stake in NIKE, Inc. (NYSE:NKE) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 48,016 shares of the footwear maker’s stock, valued at approximately $1,971,000.

Several other hedge funds have also bought and sold shares of the company. J. Stern & Co. LLP lifted its position in shares of NIKE by 49,010.4% in the fourth quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock valued at $3,061,555,000 after buying an additional 47,956,692 shares during the last quarter. Norges Bank bought a new position in shares of NIKE during the 4th quarter worth approximately $829,956,000. Flossbach Von Storch SE acquired a new position in shares of NIKE during the 2nd quarter worth approximately $488,714,000. Harris Associates L P acquired a new position in shares of NIKE during the 2nd quarter worth approximately $621,525,000. Finally, Capital World Investors raised its stake in NIKE by 16.2% in the 4th quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after acquiring an additional 6,830,938 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NKE has been the subject of several research reports. BTIG Research reaffirmed a “buy” rating and set a $55.00 price target on shares of NIKE in a report on Wednesday, July 1st. Berenberg Bank set a $49.00 price objective on shares of NIKE and gave the company a “hold” rating in a research report on Friday, July 3rd. Robert W. Baird restated an “outperform” rating and set a $70.00 target price on shares of NIKE in a research note on Wednesday, July 1st. Evercore set a $46.00 target price on shares of NIKE and gave the stock an “in-line” rating in a report on Tuesday, June 23rd. Finally, The Goldman Sachs Group decreased their price target on shares of NIKE from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $53.53.

NIKE Stock Down 0.1%

NKE opened at $40.73 on Tuesday. NIKE, Inc. has a fifty-two week low of $38.86 and a fifty-two week high of $80.17. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. The company has a market capitalization of $60.43 billion, a P/E ratio of 19.49, a P/E/G ratio of 1.81 and a beta of 1.11. The stock has a fifty day moving average of $42.38 and a 200-day moving average of $47.69.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.85 billion. During the same quarter in the previous year, the business posted $0.14 earnings per share. NIKE’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities analysts expect that NIKE, Inc. will post 1.74 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.0%. NIKE’s payout ratio is currently 78.47%.

Insider Buying and Selling at NIKE

In related news, EVP Philip Mccartney sold 17,398 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the sale, the executive vice president directly owned 53,133 shares in the company, valued at approximately $2,453,681.94. The trade was a 24.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Matthew Friend sold 2,463 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total value of $102,460.80. Following the sale, the chief financial officer directly owned 82,165 shares in the company, valued at $3,418,064. This represents a 2.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 26,142 shares of company stock worth $1,169,380. 1.10% of the stock is currently owned by company insiders.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).