Argent Advisors Inc. Buys 710 Shares of NIKE, Inc. (NYSE:NKE)

Argent Advisors Inc. raised its position in shares of NIKE, Inc. (NYSE:NKE) by 12.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,513 shares of the footwear maker’s stock after acquiring an additional 710 shares during the quarter. Argent Advisors Inc.’s holdings in NIKE were worth $491,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Norges Bank purchased a new stake in NIKE in the fourth quarter worth about $1,315,097,000. Price T Rowe Associates Inc. MD increased its position in NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after buying an additional 7,996,434 shares in the last quarter. Capital International Investors boosted its holdings in NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after acquiring an additional 7,143,775 shares in the last quarter. Longview Partners Guernsey LTD purchased a new position in shares of NIKE in the 1st quarter worth about $533,533,000. Finally, Capital World Investors raised its holdings in NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after buying an additional 4,457,376 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

Shares of NYSE:NKE traded up $0.07 during mid-day trading on Friday, reaching $83.33. 13,751,888 shares of the company traded hands, compared to its average volume of 11,453,677. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The firm has a market cap of $125.77 billion, a PE ratio of 22.34, a PEG ratio of 1.92 and a beta of 1.01. The company’s 50 day moving average price is $78.18 and its 200-day moving average price is $89.76. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the previous year, the company earned $0.66 EPS. NIKE’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities analysts expect that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.78%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Robert W. Baird reduced their price target on shares of NIKE from $125.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Oppenheimer reissued an “outperform” rating and issued a $120.00 target price on shares of NIKE in a report on Friday, June 28th. TD Cowen lowered their price target on NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. UBS Group reaffirmed a “neutral” rating and set a $78.00 price objective on shares of NIKE in a research report on Friday, June 28th. Finally, StockNews.com downgraded NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average target price of $95.59.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the transaction, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value 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. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

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.