Lake Street Financial LLC Has $1.33 Million Holdings in NIKE, Inc. (NYSE:NKE)

Lake Street Financial LLC grew its position in NIKE, Inc. (NYSE:NKEGet Rating) by 3.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,873 shares of the footwear maker’s stock after purchasing an additional 309 shares during the period. Lake Street Financial LLC’s holdings in NIKE were worth $1,329,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NKE. Qube Research & Technologies Ltd increased its holdings in shares of NIKE by 245.7% during the 4th quarter. Qube Research & Technologies Ltd now owns 476,970 shares of the footwear maker’s stock valued at $79,497,000 after acquiring an additional 338,996 shares during the last quarter. Dixon Hughes Goodman Wealth Advisors LLC acquired a new position in shares of NIKE during the 4th quarter valued at about $52,000. RFG Advisory LLC increased its holdings in shares of NIKE by 4.1% during the 4th quarter. RFG Advisory LLC now owns 5,045 shares of the footwear maker’s stock valued at $841,000 after acquiring an additional 198 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of NIKE by 8.6% during the 4th quarter. Pinnacle Associates Ltd. now owns 17,404 shares of the footwear maker’s stock valued at $2,901,000 after acquiring an additional 1,373 shares during the last quarter. Finally, Valmark Advisers Inc. increased its holdings in shares of NIKE by 11.3% during the 4th quarter. Valmark Advisers Inc. now owns 8,160 shares of the footwear maker’s stock valued at $1,360,000 after acquiring an additional 831 shares during the last quarter. 65.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Andrew Campion sold 14,203 shares of the business’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $120.61, for a total value of $1,713,023.83. Following the sale, the chief operating officer now directly owns 73,795 shares in the company, valued at $8,900,414.95. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other NIKE news, CFO Matthew Friend sold 9,032 shares of the business’s stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $110.52, for a total transaction of $998,216.64. Following the transaction, the chief financial officer now owns 51,581 shares of the company’s stock, valued at $5,700,732.12. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Andrew Campion sold 14,203 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $120.61, for a total value of $1,713,023.83. Following the transaction, the chief operating officer now directly owns 73,795 shares in the company, valued at approximately $8,900,414.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,796 shares of company stock worth $9,085,334. Corporate insiders own 0.40% of the company’s stock.

NIKE Stock Down 0.5 %

Shares of NIKE stock opened at $113.87 on Friday. The company has a quick ratio of 1.84, a current ratio of 2.63 and a debt-to-equity ratio of 0.58. NIKE, Inc. has a 12 month low of $99.53 and a 12 month high of $179.10. The business has a fifty day simple moving average of $110.34 and a 200 day simple moving average of $123.47. The stock has a market cap of $178.61 billion, a PE ratio of 30.28, a price-to-earnings-growth ratio of 2.40 and a beta of 1.02.

NIKE (NYSE:NKEGet Rating) last announced its quarterly earnings data on Monday, June 27th. The footwear maker reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. The business had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $12.10 billion. NIKE had a return on equity of 40.74% and a net margin of 12.94%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.93 earnings per share. Research analysts predict that NIKE, Inc. will post 3.82 EPS for the current year.

NIKE declared that its Board of Directors has authorized a share repurchase program on Monday, June 27th that allows the company to buyback $18.00 billion in outstanding shares. This buyback authorization allows the footwear maker to reacquire up to 11% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be issued a dividend of $0.305 per share. The ex-dividend date is Friday, September 2nd. This represents a $1.22 annualized dividend and a yield of 1.07%. NIKE’s dividend payout ratio is presently 32.45%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Citigroup lowered their target price on NIKE from $123.00 to $116.00 and set a “neutral” rating on the stock in a report on Tuesday, June 28th. Wedbush lowered their target price on NIKE from $139.00 to $130.00 and set an “outperform” rating on the stock in a report on Tuesday, June 28th. HSBC lowered their target price on NIKE from $140.00 to $132.00 and set a “hold” rating on the stock in a report on Tuesday, June 14th. Robert W. Baird lowered their target price on NIKE from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Tuesday, June 28th. Finally, KeyCorp began coverage on NIKE in a research report on Wednesday, July 20th. They issued a “sector weight” rating for the company. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.08.

NIKE Profile

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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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