Tempus Wealth Planning LLC Increases Stock Position in NIKE, Inc. $NKE

Tempus Wealth Planning LLC raised its stake in NIKE, Inc. (NYSE:NKE) by 10.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,024 shares of the footwear maker’s stock after acquiring an additional 636 shares during the period. Tempus Wealth Planning LLC’s holdings in NIKE were worth $499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in NKE. Spirepoint Private Client LLC purchased a new stake in shares of NIKE in the 2nd quarter valued at about $2,557,000. Builder Investment Group Inc. ADV acquired a new position in NIKE during the second quarter worth approximately $213,000. TRU Independence Asset Management 2 LLC purchased a new stake in NIKE in the second quarter valued at approximately $223,000. Signaturefd LLC boosted its holdings in shares of NIKE by 21.9% in the second quarter. Signaturefd LLC now owns 17,953 shares of the footwear maker’s stock valued at $1,275,000 after acquiring an additional 3,229 shares during the period. Finally, ORG Partners LLC grew its position in shares of NIKE by 6.9% during the second quarter. ORG Partners LLC now owns 3,455 shares of the footwear maker’s stock worth $246,000 after acquiring an additional 223 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.80% of the company’s stock.

NIKE Trading Up 0.1%

Shares of NKE opened at $69.31 on Monday. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The firm’s 50-day moving average is $74.99 and its two-hundred day moving average is $67.26. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.26. The firm has a market capitalization of $102.36 billion, a P/E ratio of 32.09, a PEG ratio of 2.53 and a beta of 1.24.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The company 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 company’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same period last year, the firm earned $0.99 EPS. On average, research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

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

Wall Street Analyst Weigh In

NKE has been the subject of several research reports. DZ Bank downgraded shares of NIKE from a “buy” rating to a “hold” rating and set a $76.00 price target for the company. in a research report on Thursday, July 10th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 target price on shares of NIKE in a report on Friday, August 22nd. JPMorgan Chase & Co. upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $64.00 to $93.00 in a research note on Monday, July 28th. Royal Bank Of Canada upgraded NIKE from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $76.00 to $90.00 in a research report on Thursday, September 18th. Finally, Cowen raised NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, September 10th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $79.62.

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.