Wallace Advisory Group LLC Has $417,000 Position in NIKE, Inc. (NYSE:NKE)

Wallace Advisory Group LLC boosted its holdings in NIKE, Inc. (NYSE:NKE) by 44.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,539 shares of the footwear maker’s stock after buying an additional 1,715 shares during the quarter. Wallace Advisory Group LLC’s holdings in NIKE were worth $417,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Sunbelt Securities Inc. raised its stake in shares of NIKE by 5.9% during the second quarter. Sunbelt Securities Inc. now owns 3,615 shares of the footwear maker’s stock valued at $272,000 after acquiring an additional 203 shares during the last quarter. Coastal Bridge Advisors LLC increased its holdings in NIKE by 22.9% in the second quarter. Coastal Bridge Advisors LLC now owns 3,932 shares of the footwear maker’s stock valued at $296,000 after purchasing an additional 732 shares during the period. Nemes Rush Group LLC raised its position in NIKE by 2.1% during the 2nd quarter. Nemes Rush Group LLC now owns 14,795 shares of the footwear maker’s stock worth $1,115,000 after purchasing an additional 310 shares during the last quarter. Copperwynd Financial LLC lifted its holdings in NIKE by 30.9% during the 2nd quarter. Copperwynd Financial LLC now owns 8,687 shares of the footwear maker’s stock worth $650,000 after buying an additional 2,053 shares during the period. Finally, Creative Planning grew its position in shares of NIKE by 7.1% in the 2nd quarter. Creative Planning now owns 547,242 shares of the footwear maker’s stock valued at $41,246,000 after buying an additional 36,290 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on NKE. Citigroup cut their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. JPMorgan Chase & Co. dropped their price target on shares of NIKE from $83.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. Wells Fargo & Company increased their price objective on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Raymond James restated a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $92.00 price target on shares of NIKE in a research report on Friday, September 20th. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.52.

NIKE Price Performance

Shares of NYSE NKE opened at $89.44 on Monday. The stock has a market cap of $135.00 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 2.30 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The firm’s 50-day simple moving average is $79.67 and its 200 day simple moving average is $86.57.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same quarter last year, the company earned $0.66 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, research analysts anticipate that NIKE, Inc. will post 3.04 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.65%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

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.