Dagco Inc. Invests $43,000 in NIKE, Inc. (NYSE:NKE)

Dagco Inc. purchased a new position in NIKE, Inc. (NYSE:NKE) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 675 shares of the footwear maker’s stock, valued at approximately $43,000.

A number of other hedge funds have also recently made changes to their positions in NKE. Heck Capital Advisors LLC purchased a new stake in NIKE during the 4th quarter valued at $28,000. Stone House Investment Management LLC purchased a new stake in NIKE during the 1st quarter valued at $25,000. Putney Financial Group LLC purchased a new stake in NIKE during the 4th quarter valued at $40,000. Minot DeBlois Advisors LLC purchased a new stake in NIKE during the 4th quarter valued at $42,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in NIKE during the 1st quarter valued at $37,000. 64.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Wells Fargo & Company increased their target price on NIKE from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 14th. Wall Street Zen downgraded NIKE from a “hold” rating to a “sell” rating in a research note on Friday, June 27th. DZ Bank cut NIKE from a “buy” rating to a “hold” rating and set a $76.00 price target on the stock. in a report on Thursday, July 10th. Needham & Company LLC increased their price target on NIKE from $66.00 to $78.00 and gave the company a “buy” rating in a report on Friday, June 27th. Finally, UBS Group started coverage on NIKE in a report on Sunday, July 6th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $78.22.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the sale, the chairman owned 842,361 shares of the company’s stock, valued at $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is currently owned by insiders.

NIKE Stock Up 3.2%

NKE opened at $77.28 on Thursday. 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, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62. The firm has a 50-day simple moving average of $70.49 and a two-hundred day simple moving average of $67.67. The company has a market capitalization of $114.13 billion, a PE ratio of 35.78, a price-to-earnings-growth ratio of 2.72 and a beta of 1.27.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The firm 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 revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.99 EPS. Analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.1%. NIKE’s dividend payout ratio (DPR) is presently 74.07%.

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.