Lynch Asset Management Inc. Has $3.41 Million Holdings in NIKE, Inc. (NYSE:NKE)

Lynch Asset Management Inc. grew its stake in NIKE, Inc. (NYSE:NKE) by 15.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 38,600 shares of the footwear maker’s stock after buying an additional 5,250 shares during the quarter. NIKE makes up approximately 1.4% of Lynch Asset Management Inc.’s portfolio, making the stock its 23rd largest holding. Lynch Asset Management Inc.’s holdings in NIKE were worth $3,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Annapolis Financial Services LLC lifted its position in shares of NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares during the last quarter. Transcendent Capital Group LLC lifted its position in shares of NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after buying an additional 200 shares during the last quarter. VitalStone Financial LLC lifted its position in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC lifted its position in shares of NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares during the last quarter. Finally, Triad Wealth Partners LLC acquired a new position in shares of NIKE during the 2nd quarter worth about $44,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

NIKE Price Performance

NYSE NKE traded down $0.19 during trading hours on Friday, reaching $78.85. 9,385,379 shares of the company’s stock were exchanged, compared to its average volume of 11,607,228. The stock has a market cap of $118.22 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The firm has a fifty day moving average of $82.71 and a 200-day moving average of $84.94. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the prior year, the business earned $0.94 EPS. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. On average, equities research analysts predict that NIKE, Inc. will post 2.78 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio is 42.41%.

Analyst Ratings Changes

Several research firms recently weighed in on NKE. Barclays cut their price objective on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Evercore ISI cut their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Jefferies Financial Group boosted their price objective on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Finally, Robert W. Baird boosted their price objective on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target of $96.56.

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.