Tower View Wealth Management LLC Boosts Position in NIKE, Inc. $NKE

Tower View Wealth Management LLC boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 806.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,341 shares of the footwear maker’s stock after buying an additional 1,193 shares during the quarter. Tower View Wealth Management LLC’s holdings in NIKE were worth $95,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Spire Wealth Management raised its position in NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after buying an additional 416 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after buying an additional 5,601 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new position in NIKE during the 1st quarter worth approximately $25,963,000. BROOKFIELD Corp ON increased its holdings in shares of NIKE by 36.2% during the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock valued at $41,808,000 after purchasing an additional 175,000 shares in the last quarter. Finally, Olstein Capital Management L.P. increased its holdings in shares of NIKE by 42.2% during the 1st quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker’s stock valued at $5,777,000 after purchasing an additional 27,000 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Up 0.5%

Shares of NKE opened at $74.59 on Friday. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $84.76. The company has a quick ratio of 1.50, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The firm’s fifty day moving average is $74.71 and its two-hundred day moving average is $67.32. The stock has a market cap of $110.16 billion, a PE ratio of 38.25, a price-to-earnings-growth ratio of 2.79 and a beta of 1.29.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the previous year, the company posted $0.70 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. Research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s payout ratio is 82.05%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman owned 744,988 shares of the company’s stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NKE has been the subject of several recent research reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $75.00 target price on shares of NIKE in a report on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and set a $115.00 target price on shares of NIKE in a report on Monday. HSBC raised shares of NIKE from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a report on Friday, June 27th. Morgan Stanley set a $72.00 target price on shares of NIKE and gave the company a “positive” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $77.00 to $71.00 and set a “buy” rating for the company in a report on Friday, June 20th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.57.

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.