PFG Investments LLC Buys 431 Shares of NIKE, Inc. $NKE

PFG Investments LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.3% during the 2nd quarter, Holdings Channel reports. The fund owned 8,555 shares of the footwear maker’s stock after acquiring an additional 431 shares during the period. PFG Investments LLC’s holdings in NIKE were worth $608,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC lifted its stake in shares of NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after buying an additional 160,980 shares in the last quarter. NBC Securities Inc. lifted its stake in shares of NIKE by 109,628.6% in the first quarter. NBC Securities Inc. now owns 7,681 shares of the footwear maker’s stock valued at $487,000 after buying an additional 7,674 shares in the last quarter. Merit Financial Group LLC lifted its stake in shares of NIKE by 26.2% in the first quarter. Merit Financial Group LLC now owns 10,526 shares of the footwear maker’s stock valued at $668,000 after buying an additional 2,187 shares in the last quarter. RFG Advisory LLC lifted its stake in shares of NIKE by 11.6% in the first quarter. RFG Advisory LLC now owns 9,746 shares of the footwear maker’s stock valued at $619,000 after buying an additional 1,011 shares in the last quarter. Finally, Apella Capital LLC lifted its stake in shares of NIKE by 47.8% in the first quarter. Apella Capital LLC now owns 4,390 shares of the footwear maker’s stock valued at $260,000 after buying an additional 1,420 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

NYSE NKE opened at $72.01 on Friday. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $84.76. The company has a 50-day simple moving average of $74.62 and a 200 day simple moving average of $67.31. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.50 and a current ratio of 2.19. The company has a market capitalization of $106.34 billion, a PE ratio of 36.93, a price-to-earnings-growth ratio of 2.75 and a beta of 1.29.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion during 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 quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.70 earnings per share. On average, research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is currently 82.05%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of NIKE in a research note on Saturday, September 27th. Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Robert W. Baird raised their price objective on shares of NIKE from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, June 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 price objective on shares of NIKE in a research note on Monday, September 29th. Finally, Royal Bank Of Canada upgraded shares of NIKE from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $76.00 to $90.00 in a report on Thursday, September 18th. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.57.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the 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 completion of the transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.80% of the stock is owned by corporate insiders.

NIKE Company 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.