Mitchell Sinkler & Starr PA Increases Holdings in NIKE, Inc. (NYSE:NKE)

Mitchell Sinkler & Starr PA boosted its holdings in NIKE, Inc. (NYSE:NKE) by 8.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,837 shares of the footwear maker’s stock after acquiring an additional 2,919 shares during the period. Mitchell Sinkler & Starr PA’s holdings in NIKE were worth $2,750,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Annapolis Financial Services LLC boosted its stake in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares during the last quarter. True Wealth Design LLC boosted its position in shares of NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in NIKE in the fourth quarter valued at approximately $33,000. Core Wealth Advisors Inc. increased its holdings in shares of NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares during the last quarter. Finally, Gold Investment Management Ltd. acquired a new stake in NIKE during the fourth quarter worth about $36,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NKE has been the subject of a number of research reports. The Goldman Sachs Group decreased their target price on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a report on Friday, June 28th. UBS Group reissued a “neutral” rating and issued a $78.00 price objective on shares of NIKE in a research report on Friday, June 28th. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. Bank of America dropped their target price on NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on NIKE from $115.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Fourteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average target price of $95.59.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

NIKE Price Performance

Shares of NYSE:NKE opened at $78.07 on Wednesday. The stock’s 50 day moving average price is $77.03 and its 200 day moving average price is $88.19. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The stock has a market cap of $117.06 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 2.11 and a beta of 1.02. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 earnings per share. Equities research analysts anticipate that NIKE, Inc. will post 3.1 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.90%. NIKE’s dividend payout ratio (DPR) is 39.68%.

NIKE 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.