Ballentine Partners LLC Buys 239 Shares of NIKE, Inc. $NKE

Ballentine Partners LLC lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,729 shares of the footwear maker’s stock after purchasing an additional 239 shares during the period. Ballentine Partners LLC’s holdings in NIKE were worth $1,544,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Stone House Investment Management LLC purchased a new stake in shares of NIKE during the 1st quarter worth approximately $25,000. Heck Capital Advisors LLC purchased a new stake in shares of NIKE during the 4th quarter worth approximately $28,000. Saudi Central Bank purchased a new stake in shares of NIKE during the 1st quarter worth approximately $30,000. Matrix Trust Co raised its position in shares of NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 153 shares during the period. Finally, Opal Wealth Advisors LLC bought a new stake in shares of NIKE in the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 0.4%

NYSE:NKE opened at $71.21 on Thursday. The company has a fifty day moving average of $75.12 and a 200 day moving average of $67.43. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $105.17 billion, a P/E ratio of 32.97, a P/E/G ratio of 2.58 and a beta of 1.24.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same period in the prior year, the business posted $0.99 EPS. The firm’s revenue was down 11.9% compared to the same quarter last year. On average, research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a $0.40 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.2%. NIKE’s dividend payout ratio is 74.07%.

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 Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Barclays boosted their price target on shares of NIKE from $64.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday, September 18th. Morgan Stanley boosted their price target on shares of NIKE from $64.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday. Bank of America boosted their price target on shares of NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, June 27th. DZ Bank lowered shares of NIKE from a “buy” rating to a “hold” rating and set a $76.00 target price on the stock. in a report on Thursday, July 10th. Finally, Royal Bank Of Canada raised shares of NIKE from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $76.00 to $90.00 in a report on Thursday, September 18th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $79.46.

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.