Bleakley Financial Group LLC Purchases 19,799 Shares of NIKE, Inc. $NKE

Bleakley Financial Group LLC boosted its position in NIKE, Inc. (NYSE:NKE) by 49.0% during the 1st quarter, HoldingsChannel reports. The firm owned 60,172 shares of the footwear maker’s stock after purchasing an additional 19,799 shares during the period. Bleakley Financial Group LLC’s holdings in NIKE were worth $3,178,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Main Street Financial Solutions LLC raised its position in NIKE by 4.2% in the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after acquiring an additional 139 shares during the period. Diligent Investors LLC increased its stake in shares of NIKE by 4.3% in the 4th quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock worth $237,000 after purchasing an additional 153 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of NIKE by 4.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock worth $253,000 after purchasing an additional 163 shares in the last quarter. Lakeshore Capital Group Inc. raised its holdings in NIKE by 2.9% in the 4th quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker’s stock worth $374,000 after purchasing an additional 165 shares during the period. Finally, ANB Bank raised its holdings in NIKE by 0.7% in the 4th quarter. ANB Bank now owns 25,451 shares of the footwear maker’s stock worth $1,621,000 after purchasing an additional 165 shares during the period. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

NKE opened at $42.80 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. The stock has a market capitalization of $63.38 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 2.47 and a beta of 1.12. The company has a fifty day moving average of $43.67 and a 200 day moving average of $52.03. NIKE, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $80.17.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping the consensus estimate of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The business had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.85 billion. During the same quarter in the previous year, the company earned $0.14 EPS. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, sell-side analysts forecast that NIKE, Inc. will post 1.76 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.8%. The ex-dividend date was Monday, June 1st. NIKE’s dividend payout ratio (DPR) is currently 78.47%.

Insider Transactions at NIKE

In related news, EVP Philip Mccartney sold 17,398 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the transaction, the executive vice president directly owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. This trade represents a 24.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NKE shares. Royal Bank Of Canada reissued a “neutral” rating on shares of NIKE in a report on Wednesday, July 1st. Robert W. Baird reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of NIKE in a research note on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on NIKE from $51.00 to $43.00 and set a “hold” rating on the stock in a research report on Friday, June 26th. Needham & Company LLC reiterated a “hold” rating on shares of NIKE in a research note on Thursday, June 4th. Finally, Sanford C. Bernstein set a $72.00 target price on shares of NIKE and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Thirteen analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $54.80.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).