NIKE, Inc. $NKE Shares Purchased by D.A. Davidson & CO.

D.A. Davidson & CO. lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 7.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 171,585 shares of the footwear maker’s stock after purchasing an additional 12,024 shares during the period. D.A. Davidson & CO.’s holdings in NIKE were worth $9,063,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Brighton Jones LLC raised its position in NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after acquiring an additional 160,980 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of NIKE in the first quarter valued at approximately $311,000. United Bank grew its holdings in NIKE by 11.3% during the 2nd quarter. United Bank now owns 17,067 shares of the footwear maker’s stock valued at $1,212,000 after buying an additional 1,736 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of NIKE by 0.3% during the second quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock valued at $4,558,000 after acquiring an additional 197 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of NIKE by 6.5% during the 2nd quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock worth $13,588,000 after purchasing an additional 11,646 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NYSE NKE opened at $43.78 on Friday. NIKE, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $80.17. The firm’s 50-day simple moving average is $43.67 and its 200 day simple moving average is $51.86. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. The stock has a market cap of $64.83 billion, a P/E ratio of 20.95, a P/E/G ratio of 2.57 and a beta of 1.12.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. During the same period in the previous year, the firm earned $0.14 EPS. NIKE’s revenue was down 1.1% on a year-over-year basis. Equities analysts expect that NIKE, Inc. will post 1.76 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were issued a dividend of $0.41 per share. The ex-dividend date was Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.7%. NIKE’s payout ratio is currently 78.47%.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of research analyst reports. The Goldman Sachs Group decreased their price target on NIKE from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Sanford C. Bernstein set a $72.00 target price on NIKE and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Royal Bank Of Canada reaffirmed a “neutral” rating on shares of NIKE in a research note on Wednesday, July 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of NIKE in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $54.80.

Insider Buying and Selling at NIKE

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64. Following the transaction, the executive vice president owned 53,133 shares of the company’s stock, valued at $2,453,681.94. The trade was a 24.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.80% of the company’s stock.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).