D.B. Root & Company LLC Buys 1,954 Shares of NIKE, Inc. $NKE

D.B. Root & Company LLC raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 11.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,618 shares of the footwear maker’s stock after buying an additional 1,954 shares during the period. D.B. Root & Company LLC’s holdings in NIKE were worth $1,182,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares during the period. Bank Pictet & Cie Europe AG increased its stake in shares of NIKE by 10.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker’s stock worth $14,447,000 after purchasing an additional 17,888 shares during the period. OneDigital Investment Advisors LLC increased its stake in shares of NIKE by 83.4% in the fourth quarter. OneDigital Investment Advisors LLC now owns 30,793 shares of the footwear maker’s stock worth $2,330,000 after purchasing an additional 14,001 shares during the period. J. Safra Sarasin Holding AG increased its stake in shares of NIKE by 9.0% in the fourth quarter. J. Safra Sarasin Holding AG now owns 6,055 shares of the footwear maker’s stock worth $458,000 after purchasing an additional 500 shares during the period. Finally, MGO One Seven LLC increased its stake in shares of NIKE by 55.3% in the fourth quarter. MGO One Seven LLC now owns 26,027 shares of the footwear maker’s stock worth $1,969,000 after purchasing an additional 9,268 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NKE shares. Needham & Company LLC lifted their price objective on NIKE from $66.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, June 27th. Bank of America lifted their price objective on NIKE from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, June 27th. Deutsche Bank Aktiengesellschaft dropped their price objective on NIKE from $77.00 to $71.00 and set a “buy” rating on the stock in a research note on Friday, June 20th. Citigroup lifted their price objective on NIKE from $57.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, June 27th. Finally, DZ Bank downgraded NIKE from a “buy” rating to a “hold” rating and set a $76.00 target price on the stock. in a research report on Thursday, July 10th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $78.22.

NIKE Stock Down 0.2%

NKE stock opened at $76.10 on Friday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The company has a market cap of $112.39 billion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 2.77 and a beta of 1.27. The business’s 50-day simple moving average is $72.15 and its 200 day simple moving average is $67.68. 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 data 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 for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The company’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. On average, research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

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

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction that occurred 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 sale, the chairman directly owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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.