NIKE, Inc. (NYSE:NKE) Position Increased by CVA Family Office LLC

CVA Family Office LLC boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 9.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,363 shares of the footwear maker’s stock after acquiring an additional 202 shares during the quarter. CVA Family Office LLC’s holdings in NIKE were worth $178,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Physicians Financial Services Inc. increased its position in shares of NIKE by 0.6% during the fourth quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock worth $1,745,000 after buying an additional 100 shares during the period. ZWJ Investment Counsel Inc. grew its holdings in shares of NIKE by 4.0% during the fourth quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock valued at $282,000 after buying an additional 100 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in NIKE by 0.4% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock valued at $2,776,000 after purchasing an additional 100 shares during the last quarter. J.Safra Asset Management Corp grew its holdings in NIKE by 12.9% during the fourth quarter. J.Safra Asset Management Corp now owns 883 shares of the footwear maker’s stock worth $96,000 after buying an additional 101 shares in the last quarter. Finally, Beta Wealth Group Inc. grew its position in NIKE by 2.3% in the 4th quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock worth $489,000 after purchasing an additional 101 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of recent analyst reports. Guggenheim lowered their price target on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Citigroup cut their target price on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, June 28th. The Goldman Sachs Group dropped their price target on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, June 28th. StockNews.com cut NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Finally, TD Cowen cut their target price on NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $96.30.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan acquired 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other NIKE news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now owns 730 shares of the company’s stock, valued at approximately $68,357.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Insiders have sold a total of 278,660 shares of company stock valued at $23,735,833 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

NIKE Stock Performance

Shares of NKE stock traded up $0.12 on Wednesday, reaching $72.62. The stock had a trading volume of 9,328,241 shares, compared to its average volume of 11,462,008. The stock has a market cap of $109.61 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a 50 day simple moving average of $82.92 and a 200 day simple moving average of $92.16.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 EPS. Equities research analysts expect that NIKE, Inc. will post 3.12 EPS for the current year.

NIKE Announces Dividend

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 issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 2.04%. NIKE’s dividend payout ratio is presently 39.68%.

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.