NIKE, Inc. $NKE Shares Acquired by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,445 shares of the footwear maker’s stock after buying an additional 584 shares during the period. Keudell Morrison Wealth Management’s holdings in NIKE were worth $2,163,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Caldwell Sutter Capital Inc. increased its position in NIKE by 6.3% during the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock worth $170,000 after buying an additional 142 shares in the last quarter. Westmount Partners LLC grew its position in shares of NIKE by 2.9% in the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock valued at $367,000 after purchasing an additional 146 shares during the period. HB Wealth Management LLC grew its position in shares of NIKE by 0.3% in the second quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock valued at $3,695,000 after purchasing an additional 147 shares during the period. Matrix Trust Co grew 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, Summit Financial Strategies Inc. grew its position in shares of NIKE by 3.8% in the second quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker’s stock valued at $303,000 after purchasing an additional 155 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction dated 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 $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is owned by insiders.

NIKE Price Performance

NKE stock opened at $72.01 on Friday. The stock has a 50-day moving average price of $74.62 and a two-hundred day moving average price of $67.27. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $84.76. The company has a current ratio of 2.19, a quick ratio of 1.50 and a debt-to-equity ratio of 0.59. The company has a market cap of $106.34 billion, a PE ratio of 36.93, a price-to-earnings-growth ratio of 2.65 and a beta of 1.29.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the previous year, the business earned $0.70 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Tuesday, September 2nd. NIKE’s payout ratio is currently 82.05%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NKE. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $75.00 price objective on shares of NIKE in a research report on Wednesday. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the company from $62.00 to $85.00 in a research report on Wednesday, September 10th. Stifel Nicolaus set a $68.00 price objective on NIKE and gave the company a “hold” rating in a research report on Wednesday. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $90.00 price objective on shares of NIKE in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on NIKE from $77.00 to $71.00 and set a “buy” rating for the company in a research report on Friday, June 20th. Three analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average target price of $81.57.

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.