RBA Wealth Management LLC Purchases 395 Shares of NIKE, Inc. (NYSE:NKE)

RBA Wealth Management LLC raised its stake in shares of NIKE, Inc. (NYSE:NKEGet Rating) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,129 shares of the footwear maker’s stock after purchasing an additional 395 shares during the quarter. RBA Wealth Management LLC’s holdings in NIKE were worth $3,247,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NKE. Aquire Wealth Advisors LLC purchased a new position in NIKE during the 4th quarter valued at $26,000. Retirement Planning Co of New England Inc. purchased a new stake in NIKE during the 4th quarter valued at about $26,000. Horan Securities Inc. purchased a new stake in NIKE during the 4th quarter valued at about $29,000. Sycomore Asset Management purchased a new stake in NIKE during the 4th quarter valued at about $31,000. Finally, Alpha Paradigm Partners LLC purchased a new stake in NIKE during the 4th quarter valued at about $31,000. 65.35% of the stock is currently owned by institutional investors and hedge funds.

In related news, COO Andrew Campion sold 14,203 shares of NIKE stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $120.61, for a total value of $1,713,023.83. Following the completion of the sale, the chief operating officer now directly owns 73,795 shares in the company, valued at $8,900,414.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew Friend sold 9,032 shares of NIKE stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $110.52, for a total value of $998,216.64. Following the completion of the sale, the chief financial officer now owns 51,581 shares of the company’s stock, valued at $5,700,732.12. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Shares of NKE stock traded up $2.13 on Thursday, reaching $107.05. The company’s stock had a trading volume of 373,446 shares, compared to its average volume of 5,631,163. The stock’s fifty day simple moving average is $117.72 and its 200-day simple moving average is $135.48. NIKE, Inc. has a 1 year low of $103.46 and a 1 year high of $179.10. The company has a current ratio of 3.06, a quick ratio of 2.18 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $168.47 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96.

NIKE (NYSE:NKEGet Rating) last released its earnings results on Monday, March 21st. The footwear maker reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.14. NIKE had a return on equity of 43.04% and a net margin of 13.06%. The business had revenue of $10.90 billion during the quarter, compared to the consensus estimate of $10.61 billion. During the same period last year, the company earned $0.90 earnings per share. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities research analysts forecast that NIKE, Inc. will post 3.68 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Monday, June 6th will be issued a $0.305 dividend. The ex-dividend date of this dividend is Friday, June 3rd. This represents a $1.22 annualized dividend and a dividend yield of 1.14%. NIKE’s payout ratio is currently 32.19%.

Several analysts recently commented on the stock. Stifel Nicolaus cut their price objective on shares of NIKE from $160.00 to $150.00 in a research report on Monday, June 6th. The Goldman Sachs Group set a $177.00 price objective on shares of NIKE in a research report on Tuesday, March 22nd. Jefferies Financial Group lowered their target price on shares of NIKE from $200.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, March 16th. Seaport Res Ptn cut shares of NIKE from a “buy” rating to a “neutral” rating in a research note on Wednesday. Finally, Sanford C. Bernstein began coverage on shares of NIKE in a research note on Monday, March 14th. They set an “outperform” rating and a $160.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $155.85.

NIKE Company Profile (Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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