High Note Wealth LLC Increases Holdings in NIKE, Inc. $NKE

High Note Wealth LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 118.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,261 shares of the footwear maker’s stock after acquiring an additional 2,848 shares during the quarter. High Note Wealth LLC’s holdings in NIKE were worth $374,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Independent Solutions Wealth Management LLC grew its stake in shares of NIKE by 28.2% in the 2nd quarter. Independent Solutions Wealth Management LLC now owns 16,970 shares of the footwear maker’s stock valued at $1,206,000 after purchasing an additional 3,732 shares during the last quarter. TriaGen Wealth Management LLC purchased a new position in shares of NIKE in the second quarter valued at $246,000. Roundview Capital LLC raised its position in NIKE by 58.7% during the second quarter. Roundview Capital LLC now owns 79,723 shares of the footwear maker’s stock worth $5,664,000 after acquiring an additional 29,495 shares during the last quarter. 626 Financial LLC acquired a new stake in shares of NIKE during the 2nd quarter worth about $331,000. Finally, KLP Kapitalforvaltning AS lifted its stake in shares of NIKE by 3.5% during the second quarter. KLP Kapitalforvaltning AS now owns 450,158 shares of the footwear maker’s stock valued at $32,127,000 after buying an additional 15,200 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

NKE opened at $71.25 on Tuesday. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The company’s 50-day moving average price is $74.46 and its 200 day moving average price is $67.26. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $84.76. The firm has a market cap of $105.23 billion, a price-to-earnings ratio of 36.54, a price-to-earnings-growth ratio of 2.64 and a beta of 1.29.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.70 EPS. As a group, sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. NIKE’s dividend payout ratio is presently 82.05%.

Insiders Place Their Bets

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 shares were 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 in the company, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NKE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 1st. Wall Street Zen upgraded shares of NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Telsey Advisory Group restated a “market perform” rating and set a $75.00 target price on shares of NIKE in a report on Wednesday, October 1st. Barclays set a $70.00 price objective on shares of NIKE and gave the stock a “positive” rating in a report on Wednesday, October 1st. Finally, Argus upgraded NIKE to a “buy” rating in a research note on Sunday, July 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average target price of $81.57.

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.