Northern Financial Advisors Inc Makes New $1.22 Million Investment in NIKE, Inc. $NKE

Northern Financial Advisors Inc purchased a new position in shares of NIKE, Inc. (NYSE:NKE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 17,216 shares of the footwear maker’s stock, valued at approximately $1,223,000.

Other institutional investors have also recently made changes to their positions in the company. Stone House Investment Management LLC purchased a new position in shares of NIKE during the 1st quarter valued at approximately $25,000. Mascoma Wealth Management LLC purchased a new position in shares of NIKE during the 2nd quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC increased its holdings in shares of NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 362 shares in the last quarter. Saudi Central Bank purchased a new position in shares of NIKE during the 1st quarter valued at approximately $30,000. Finally, Matrix Trust Co increased its holdings in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Down 3.0%

Shares of NKE opened at $69.03 on Wednesday. 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 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The firm’s fifty day moving average is $74.28 and its two-hundred day moving average is $67.28. The stock has a market cap of $101.95 billion, a PE ratio of 35.40, a price-to-earnings-growth ratio of 2.61 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 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s payout ratio is 82.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. UBS Group set a $71.00 price target on shares of NIKE and gave the stock a “neutral” rating in a report on Friday, September 19th. KeyCorp set a $90.00 price target on shares of NIKE and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Stifel Nicolaus set a $68.00 price target on shares of NIKE and gave the stock a “hold” rating in a report on Wednesday, October 1st. Morgan Stanley set a $72.00 price target on shares of NIKE and gave the stock a “positive” rating in a report on Wednesday, October 1st. Finally, Evercore ISI cut their price target on shares of NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a report on Tuesday, June 24th. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.57.

Insider Activity

In other news, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 200,378 shares of company stock worth $14,794,264. Corporate insiders own 0.80% of the company’s stock.

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.