Edgestream Partners L.P. Raises Holdings in NIKE, Inc. $NKE

Edgestream Partners L.P. raised its position in NIKE, Inc. (NYSE:NKE) by 83.6% during the second quarter, HoldingsChannel reports. The firm owned 50,759 shares of the footwear maker’s stock after purchasing an additional 23,110 shares during the period. Edgestream Partners L.P.’s holdings in NIKE were worth $3,606,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Stone House Investment Management LLC purchased a new position in shares of NIKE in the first quarter worth about $25,000. Mascoma Wealth Management LLC purchased a new position in NIKE in the 2nd quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC boosted 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 worth $28,000 after purchasing an additional 362 shares during the last quarter. Saudi Central Bank purchased a new stake in shares of NIKE in the first quarter valued at approximately $30,000. Finally, Matrix Trust Co increased its holdings in shares of NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 1.1%

Shares of NKE stock opened at $65.65 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The firm has a market cap of $97.05 billion, a PE ratio of 33.67, a price-to-earnings-growth ratio of 2.32 and a beta of 1.29. The company has a 50-day moving average of $66.18 and a two-hundred day moving average of $69.10. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44.

NIKE (NYSE:NKE) last released its quarterly earnings results 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. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the previous year, the firm earned $0.70 EPS. The business’s revenue was up 1.0% on a year-over-year basis. On average, analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a $0.41 dividend. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 2.5%. NIKE’s dividend payout ratio is presently 84.10%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Zacks Research raised NIKE from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Citigroup upgraded NIKE from a “neutral” rating to a “positive” rating in a report on Friday, September 19th. Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Needham & Company LLC restated a “buy” rating and set a $78.00 price objective on shares of NIKE in a research report on Wednesday, October 1st. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of NIKE in a research note on Monday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $82.24.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp purchased 16,150 shares of the stock in a transaction dated Friday, November 7th. The stock was acquired at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the transaction, the director directly owned 21,388 shares in the company, valued at approximately $1,327,980.92. This represents a 308.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares of the company’s stock, valued at $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.80% of the stock is owned by insiders.

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.