Cable Hill Partners LLC Grows Position in NIKE, Inc. (NYSE:NKE)

Cable Hill Partners LLC boosted its stake in NIKE, Inc. (NYSE:NKE) by 5.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,777 shares of the footwear maker’s stock after purchasing an additional 1,765 shares during the quarter. NIKE comprises 1.2% of Cable Hill Partners LLC’s portfolio, making the stock its 12th largest position. Cable Hill Partners LLC’s holdings in NIKE were worth $4,909,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in NIKE by 0.5% during the second quarter. Vanguard Group Inc. now owns 104,646,829 shares of the footwear maker’s stock worth $16,166,888,000 after buying an additional 483,565 shares during the period. Bank of New York Mellon Corp grew its stake in NIKE by 1.0% during the first quarter. Bank of New York Mellon Corp now owns 26,797,530 shares of the footwear maker’s stock worth $3,561,122,000 after buying an additional 273,141 shares during the period. Alliancebernstein L.P. grew its stake in NIKE by 15.2% during the second quarter. Alliancebernstein L.P. now owns 23,084,530 shares of the footwear maker’s stock worth $3,566,329,000 after buying an additional 3,045,282 shares during the period. Geode Capital Management LLC boosted its stake in shares of NIKE by 2.0% in the second quarter. Geode Capital Management LLC now owns 20,423,343 shares of the footwear maker’s stock valued at $3,146,330,000 after purchasing an additional 399,340 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in shares of NIKE by 1.0% in the first quarter. Nuveen Asset Management LLC now owns 11,059,373 shares of the footwear maker’s stock valued at $1,469,680,000 after purchasing an additional 105,856 shares during the period. Hedge funds and other institutional investors own 64.45% of the company’s stock.

In other news, insider Heidi O’neill sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 21st. The stock was sold at an average price of $160.77, for a total transaction of $2,090,010.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Andrew Campion sold 7,125 shares of the stock in a transaction on Thursday, August 5th. The shares were sold at an average price of $171.50, for a total value of $1,221,937.50. The disclosure for this sale can be found here. Insiders have sold a total of 66,671 shares of company stock valued at $11,230,087 over the last 90 days. Corporate insiders own 3.70% of the company’s stock.

Several analysts recently issued reports on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $213.00 price target on shares of NIKE in a report on Friday, September 17th. Royal Bank of Canada increased their price objective on shares of NIKE from $165.00 to $183.00 and gave the stock an “outperform” rating in a report on Friday, June 25th. Credit Suisse Group set a $183.00 price objective on shares of NIKE in a report on Wednesday, September 22nd. Telsey Advisory Group dropped their price objective on shares of NIKE from $180.00 to $176.00 and set an “outperform” rating on the stock in a report on Friday, September 24th. Finally, Cowen increased their price objective on shares of NIKE from $145.00 to $181.00 and gave the stock an “outperform” rating in a report on Friday, June 25th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $174.94.

Shares of NIKE stock traded up $1.34 during trading on Thursday, reaching $157.64. The company’s stock had a trading volume of 179,413 shares, compared to its average volume of 6,575,932. The stock has a 50-day moving average price of $160.78 and a two-hundred day moving average price of $148.68. The company has a current ratio of 2.72, a quick ratio of 2.01 and a debt-to-equity ratio of 0.74. NIKE, Inc. has a one year low of $118.80 and a one year high of $174.38. The stock has a market capitalization of $249.36 billion, a P/E ratio of 43.90, a price-to-earnings-growth ratio of 2.49 and a beta of 0.87.

NIKE (NYSE:NKE) last released its quarterly earnings results on Wednesday, September 22nd. The footwear maker reported $1.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.04. NIKE had a return on equity of 51.41% and a net margin of 12.86%. The business had revenue of $12.25 billion during the quarter, compared to analysts’ expectations of $12.47 billion. During the same period in the previous year, the business posted $0.95 earnings per share. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that NIKE, Inc. will post 4.3 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 1st. Investors of record on Monday, August 30th were given a $0.275 dividend. The ex-dividend date was Friday, August 27th. This represents a $1.10 dividend on an annualized basis and a yield of 0.70%. NIKE’s payout ratio is 30.90%.

NIKE Profile

NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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