Rooted Wealth Advisors Inc. Increases Holdings in NIKE, Inc. $NKE

Rooted Wealth Advisors Inc. increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 44.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,321 shares of the footwear maker’s stock after purchasing an additional 1,646 shares during the period. Rooted Wealth Advisors Inc.’s holdings in NIKE were worth $386,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tran Capital Management L.P. boosted its position in NIKE by 27.7% in the 2nd quarter. Tran Capital Management L.P. now owns 127,434 shares of the footwear maker’s stock valued at $9,053,000 after buying an additional 27,632 shares during the last quarter. Park Avenue Securities LLC boosted its position in NIKE by 14.7% in the 2nd quarter. Park Avenue Securities LLC now owns 19,166 shares of the footwear maker’s stock valued at $1,362,000 after buying an additional 2,461 shares during the last quarter. Avanza Fonder AB boosted its position in NIKE by 0.6% in the 2nd quarter. Avanza Fonder AB now owns 109,739 shares of the footwear maker’s stock valued at $7,796,000 after buying an additional 656 shares during the last quarter. Matrix Trust Co boosted its position in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after buying an additional 153 shares during the last quarter. Finally, Sowell Financial Services LLC boosted its position in NIKE by 2.6% in the 2nd quarter. Sowell Financial Services LLC now owns 38,218 shares of the footwear maker’s stock valued at $2,715,000 after buying an additional 981 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Down 1.7%

NIKE stock opened at $70.88 on Monday. The firm has a 50 day simple moving average of $75.19 and a 200-day simple moving average of $67.43. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The stock has a market capitalization of $104.68 billion, a PE ratio of 32.81, a price-to-earnings-growth ratio of 2.57 and a beta of 1.24. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The firm had revenue of $11.10 billion during the quarter, compared to analysts’ expectations 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 period last year, the firm posted $0.99 earnings per share. As a group, equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 2nd. NIKE’s dividend payout ratio is 74.07%.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of recent analyst reports. UBS Group set a $71.00 target price on shares of NIKE and gave the company a “neutral” rating in a research note on Friday. Zacks Research upgraded shares of NIKE from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. TD Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating and upped their target price for the company from $62.00 to $85.00 in a research note on Wednesday, September 10th. Needham & Company LLC upped their target price on shares of NIKE from $66.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, June 27th. Finally, Bank of America increased their price objective on shares of NIKE from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.04.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.80% of the company’s stock.

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.