Harfst & Associates Inc. Raises Holdings in NIKE, Inc. (NYSE:NKE)

Harfst & Associates Inc. boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,815 shares of the footwear maker’s stock after buying an additional 526 shares during the quarter. Harfst & Associates Inc.’s holdings in NIKE were worth $1,670,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. FFT Wealth Management LLC acquired a new stake in NIKE in the second quarter valued at approximately $26,000. Princeton Global Asset Management LLC boosted its stake in NIKE by 39.8% in the second quarter. Princeton Global Asset Management LLC now owns 246 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 70 shares in the last quarter. Rockbridge Investment Management LCC boosted its stake in NIKE by 43.9% in the second quarter. Rockbridge Investment Management LCC now owns 246 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 75 shares in the last quarter. Baldrige Asset Management LLC acquired a new stake in NIKE in the second quarter valued at approximately $41,000. Finally, Pflug Koory LLC acquired a new stake in NIKE in the second quarter valued at approximately $51,000. 64.45% of the stock is currently owned by institutional investors.

In related news, CFO Matthew Friend sold 3,546 shares of the company’s stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $171.50, for a total transaction of $608,139.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Andrew Campion sold 7,125 shares of the company’s stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $171.50, for a total transaction of $1,221,937.50. The disclosure for this sale can be found here. Insiders have sold 379,671 shares of company stock valued at $60,634,427 in the last three months. Corporate insiders own 3.70% of the company’s stock.

NKE has been the subject of several recent analyst reports. Robert W. Baird raised their target price on shares of NIKE from $150.00 to $192.00 and gave the company an “outperform” rating in a research note on Friday, June 25th. Argus raised their target price on shares of NIKE from $174.00 to $182.00 and gave the company a “buy” rating in a research note on Wednesday, July 14th. DZ Bank restated a “sell” rating on shares of NIKE in a research note on Friday, June 25th. BMO Capital Markets lifted their price objective on shares of NIKE from $160.00 to $174.00 and gave the stock an “outperform” rating in a research note on Friday, June 25th. Finally, Credit Suisse Group lifted their price objective on shares of NIKE from $165.00 to $183.00 and gave the stock an “outperform” rating in a research note on Friday, June 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-nine have issued a buy rating to the company. According to MarketBeat.com, NIKE currently has an average rating of “Buy” and an average target price of $173.03.

NKE opened at $154.25 on Tuesday. NIKE, Inc. has a fifty-two week low of $111.74 and a fifty-two week high of $174.38. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.01 and a current ratio of 2.72. The company has a fifty day moving average of $165.42 and a two-hundred day moving average of $147.23. The stock has a market capitalization of $243.99 billion, a price-to-earnings ratio of 43.33, a PEG ratio of 2.49 and a beta of 0.87.

NIKE (NYSE:NKE) last released its quarterly earnings data on Wednesday, June 23rd. The footwear maker reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.42. The company had revenue of $12.30 billion during the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a net margin of 12.86% and a return on equity of 51.41%. The firm’s revenue for the quarter was up 94.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.51) earnings per share. On average, equities research analysts forecast that NIKE, Inc. will post 4.3 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Monday, August 30th will be paid a dividend of $0.275 per share. The ex-dividend date is Friday, August 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.71%. NIKE’s dividend payout ratio is currently 30.90%.

About NIKE

NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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