Circle Wealth Management LLC Grows Holdings in NIKE, Inc. (NYSE:NKE)

Circle Wealth Management LLC increased its holdings in NIKE, Inc. (NYSE:NKE) by 0.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 553,918 shares of the footwear maker’s stock after purchasing an additional 2,603 shares during the period. NIKE makes up about 1.0% of Circle Wealth Management LLC’s holdings, making the stock its 13th biggest holding. Circle Wealth Management LLC’s holdings in NIKE were worth $41,749,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Annapolis Financial Services LLC boosted its stake in shares of NIKE by 440.0% in the 1st 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 in the last quarter. True Wealth Design LLC boosted its stake in shares of NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Core Wealth Advisors Inc. boosted its stake in shares of NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of NIKE in the 4th quarter valued at $33,000. Finally, Gold Investment Management Ltd. purchased a new stake in shares of NIKE in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 6.8 %

Shares of NIKE stock opened at $86.52 on Friday. 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 company has a 50-day moving average of $78.11 and a 200 day moving average of $87.06. The firm has a market cap of $130.59 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 2.08 and a beta of 1.02. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the business earned $0.66 EPS. As a group, sell-side analysts anticipate that NIKE, Inc. will post 3.06 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company 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. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.71%. NIKE’s dividend payout ratio is currently 39.68%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NKE shares. HSBC cut their price objective on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $92.00 price target on shares of NIKE in a research report on Friday. Oppenheimer reissued an “outperform” rating and set a $120.00 price target on shares of NIKE in a research report on Friday, June 28th. UBS Group reissued a “neutral” rating and set a $78.00 price target on shares of NIKE in a research report on Friday, June 28th. Finally, Sanford C. Bernstein dropped their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $96.15.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Robert Holmes Swan acquired 2,941 shares of NIKE stock in a transaction on 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 purchase, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

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.