Focus Partners Wealth Increases Stock Position in NIKE, Inc. $NKE

Focus Partners Wealth raised its position in shares of NIKE, Inc. (NYSE:NKE) by 28.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 359,927 shares of the footwear maker’s stock after buying an additional 78,886 shares during the quarter. Focus Partners Wealth’s holdings in NIKE were worth $22,851,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new position in NIKE during the first quarter valued at $25,000. Heck Capital Advisors LLC purchased a new position in NIKE during the fourth quarter valued at $28,000. Saudi Central Bank purchased a new position in NIKE during the first quarter valued at $30,000. Roxbury Financial LLC lifted its position in NIKE by 52.1% during the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker’s stock valued at $37,000 after buying an additional 201 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new position in NIKE during the first quarter valued at $37,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Royal Bank Of Canada lowered their price objective on NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a research report on Tuesday, May 20th. JPMorgan Chase & Co. upgraded NIKE from a “neutral” rating to an “overweight” rating and raised their price target for the company from $64.00 to $93.00 in a report on Monday, July 28th. Cowen upgraded NIKE from a “hold” rating to a “buy” rating in a report on Wednesday. Morgan Stanley raised their price target on NIKE from $61.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday, June 27th. Finally, TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and raised their price target for the company from $62.00 to $85.00 in a report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.67.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction dated 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 sale, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

NIKE Price Performance

NYSE NKE opened at $74.32 on Friday. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The stock has a 50-day moving average of $75.46 and a 200 day moving average of $67.87. The company has a market capitalization of $109.76 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 2.70 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period last year, the company earned $0.99 EPS. NIKE’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. NIKE’s payout ratio is currently 74.07%.

NIKE 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.