Albion Financial Group UT Raises Position in NIKE, Inc. (NYSE:NKE)

Albion Financial Group UT lifted its stake in NIKE, Inc. (NYSE:NKE) by 3.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,223 shares of the footwear maker’s stock after buying an additional 150 shares during the period. Albion Financial Group UT’s holdings in NIKE were worth $491,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of NKE. Annapolis Financial Services LLC boosted its holdings in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares during the last quarter. Iron Horse Wealth Management LLC lifted its holdings in NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after buying an additional 140 shares during the last quarter. Planned Solutions Inc. acquired a new stake in shares of NIKE during the 4th quarter worth approximately $29,000. True Wealth Design LLC raised its position in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NKE shares. Evercore ISI decreased their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Telsey Advisory Group reduced their price objective on NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $83.00 price objective (down from $116.00) on shares of NIKE in a research note on Friday, June 28th. Wedbush reduced their price objective on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Finally, KeyCorp reissued a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $97.19.

NIKE Price Performance

NYSE NKE opened at $75.27 on Thursday. NIKE, Inc. has a fifty-two week low of $74.29 and a fifty-two week high of $123.39. The stock’s 50-day moving average is $92.58 and its two-hundred day moving average is $98.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The firm has a market cap of $113.61 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 1.85 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. On average, analysts anticipate that NIKE, Inc. will post 3.32 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Buying and Selling

In related news, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Insiders have sold a total of 213,660 shares of company stock valued at $19,946,333 over the last three months. 0.50% of the stock is owned by corporate insiders.

About NIKE

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.