Lineweaver Wealth Advisors LLC Makes New Investment in NIKE, Inc. $NKE

Lineweaver Wealth Advisors LLC bought a new position in NIKE, Inc. (NYSE:NKE) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,990 shares of the footwear maker’s stock, valued at approximately $852,000.

Other large investors have also made changes to their positions in the company. Goldman Sachs Group Inc. lifted its holdings in shares of NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares in the last quarter. Wellington Management Group LLP boosted its position in NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after acquiring an additional 9,043,180 shares during the period. Jennison Associates LLC acquired a new position in shares of NIKE in the 1st quarter valued at about $509,051,000. Nuveen LLC purchased a new stake in shares of NIKE in the first quarter worth approximately $502,285,000. Finally, Vanguard Group Inc. lifted its position in shares of NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $72.72 on Wednesday. The company has a market capitalization of $107.40 billion, a P/E ratio of 33.67, a price-to-earnings-growth ratio of 2.65 and a beta of 1.24. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62. The company’s 50 day moving average price is $75.30 and its two-hundred day moving average price is $67.63. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21.

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

NIKE Dividend Announcement

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

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Royal Bank Of Canada lowered their price objective on shares of NIKE from $66.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 20th. Citigroup upped their price target on shares of NIKE from $68.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday. The Goldman Sachs Group lifted their price objective on NIKE from $72.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, June 27th. Barclays upped their target price on NIKE from $53.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, June 27th. Finally, Robert W. Baird raised their price target on NIKE from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.89.

NIKE Company 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.