Allstate Corp Purchases 6,546 Shares of NIKE, Inc. $NKE

Allstate Corp increased its position in shares of NIKE, Inc. (NYSE:NKE) by 18.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 41,856 shares of the footwear maker’s stock after purchasing an additional 6,546 shares during the period. Allstate Corp’s holdings in NIKE were worth $2,657,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in NKE. Stone House Investment Management LLC acquired a new position in shares of NIKE during the 1st quarter worth about $25,000. Heck Capital Advisors LLC bought a new position in NIKE during the fourth quarter worth about $28,000. Roxbury Financial LLC increased its position in NIKE by 52.1% during the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker’s stock worth $37,000 after buying an additional 201 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in NIKE in the first quarter valued at approximately $37,000. Finally, Putney Financial Group LLC acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Sanford C. Bernstein reissued an “outperform” rating on shares of NIKE in a report on Monday. HSBC upgraded shares of NIKE from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Friday, June 27th. Wall Street Zen downgraded shares of NIKE from a “hold” rating to a “sell” rating in a report on Friday, June 27th. JPMorgan Chase & Co. upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and upped their price target for the company from $64.00 to $93.00 in a research note on Monday, July 28th. Finally, Barclays raised their price objective on shares of NIKE from $53.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $78.22.

NIKE Stock Performance

NYSE NKE opened at $78.4040 on Friday. The firm has a 50-day moving average price of $72.51 and a two-hundred day moving average price of $67.69. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The company has a market capitalization of $115.79 billion, a P/E ratio of 36.30, a P/E/G ratio of 2.77 and a beta of 1.27. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 earnings per share. Analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE’s dividend payout ratio is 74.07%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.80% of the company’s stock.

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.