Howard Financial Services LTD. Buys New Stake in NIKE, Inc. (NYSE:NKE)

Howard Financial Services LTD. bought a new stake in shares of NIKE, Inc. (NYSE:NKE) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,430 shares of the footwear maker’s stock, valued at approximately $215,000.

Other hedge funds also recently bought and sold shares of the company. Cim LLC acquired a new stake in shares of NIKE during the fourth quarter valued at $14,275,000. TKG Advisors LLC purchased a new stake in shares of NIKE during the fourth quarter worth about $1,012,000. Spartan Planning & Wealth Management acquired a new position in shares of NIKE in the fourth quarter valued at approximately $182,000. Advisors Asset Management Inc. raised its position in shares of NIKE by 86.0% in the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after buying an additional 9,689 shares during the last quarter. Finally, FORA Capital LLC purchased a new position in shares of NIKE during the first quarter valued at approximately $3,412,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s 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 transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

NIKE Stock Down 0.0 %

NIKE stock opened at $80.74 on Wednesday. The company’s 50-day moving average price is $81.18 and its two-hundred day moving average price is $85.82. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The stock has a market cap of $121.87 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 2.30 and a beta of 1.02. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the company earned $0.94 earnings per share. NIKE’s revenue was down 10.4% compared to the same quarter last year. On average, analysts expect that NIKE, Inc. will post 3.04 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.83%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio is presently 39.68%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Royal Bank of Canada lowered their target price on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 2nd. Sanford C. Bernstein dropped their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. HSBC reduced their target price on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. StockNews.com cut NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Finally, 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 report on Friday, September 20th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $96.04.

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.