NIKE, Inc. $NKE Shares Purchased by McGinn Penninger Investment Management Inc.

McGinn Penninger Investment Management Inc. increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,270 shares of the footwear maker’s stock after purchasing an additional 4,280 shares during the quarter. NIKE accounts for approximately 3.7% of McGinn Penninger Investment Management Inc.’s holdings, making the stock its 9th biggest position. McGinn Penninger Investment Management Inc.’s holdings in NIKE were worth $5,916,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of NKE. Mascoma Wealth Management LLC acquired a new stake in NIKE in the second quarter valued at $26,000. Stone House Investment Management LLC acquired a new stake in NIKE in the first quarter valued at $25,000. Halbert Hargrove Global Advisors LLC lifted its holdings in NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 362 shares during the period. Matrix Trust Co lifted its holdings in NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 153 shares during the period. Finally, Saudi Central Bank acquired a new stake in NIKE in the first quarter valued at $30,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction 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 transaction, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction 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 completion of the sale, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.80% of the company’s stock.

NIKE Stock Down 2.8%

NKE opened at $62.77 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The stock has a market capitalization of $92.79 billion, a price-to-earnings ratio of 32.19, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The business has a 50-day moving average of $70.97 and a two-hundred day moving average of $68.46. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44.

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

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio is currently 82.05%.

Analyst Ratings Changes

Several research analysts have recently issued reports on NKE shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $115.00 price target on shares of NIKE in a research note on Monday, September 29th. TD Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. Sanford C. Bernstein reiterated a “buy” rating and issued a $90.00 price objective on shares of NIKE in a research report on Monday, October 13th. BTIG Research started coverage on shares of NIKE in a research report on Tuesday, October 14th. They issued a “buy” rating and a $100.00 price objective on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $78.00 price objective on shares of NIKE in a research report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $82.21.

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.