12,560 Shares in NIKE, Inc. $NKE Bought by Clarity Wealth Development LLC

Clarity Wealth Development LLC purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) in the 2nd quarter, HoldingsChannel reports. The firm purchased 12,560 shares of the footwear maker’s stock, valued at approximately $892,000. NIKE makes up 0.9% of Clarity Wealth Development LLC’s portfolio, making the stock its 21st largest holding.

Several other institutional investors have also added to or reduced their stakes in NKE. Mascoma Wealth Management LLC purchased a new stake in shares of NIKE during the second quarter worth about $26,000. Stone House Investment Management LLC bought a new stake in NIKE in the 1st quarter worth approximately $25,000. Halbert Hargrove Global Advisors LLC grew its position 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 acquiring an additional 362 shares during the period. Matrix Trust Co grew its position 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 acquiring an additional 153 shares during the period. Finally, Saudi Central Bank bought a new stake in shares of NIKE during the 1st quarter valued at $30,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NKE shares. Needham & Company LLC reissued a “buy” rating and set a $78.00 price objective on shares of NIKE in a research report on Wednesday, October 1st. TD Cowen raised shares of NIKE from a “hold” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $85.00 in a research report on Wednesday, September 10th. Sanford C. Bernstein reissued a “buy” rating and set a $90.00 price objective on shares of NIKE in a research report on Monday, October 13th. JPMorgan Chase & Co. upped their target price on shares of NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Finally, The Goldman Sachs Group set a $85.00 target price on shares of NIKE and gave the stock a “buy” rating in a report on Thursday, September 25th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $82.21.

Insider Activity

In other news, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction that occurred on 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 directly owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the transaction, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.80% of the company’s stock.

NIKE Stock Down 2.8%

Shares of NYSE NKE opened at $62.77 on Tuesday. The stock has a market capitalization of $92.79 billion, a price-to-earnings ratio of 32.19, a P/E/G ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The firm’s 50-day moving average price is $70.97 and its 200-day moving average price is $68.46. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. The company had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 EPS. On average, equities research analysts anticipate 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 was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.5%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio is presently 82.05%.

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.