Cedar Mountain Advisors LLC Has $842,000 Stake in NIKE, Inc. (NYSE:NKE)

Cedar Mountain Advisors LLC lifted its holdings in NIKE, Inc. (NYSE:NKE) by 90.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,524 shares of the footwear maker’s stock after buying an additional 4,531 shares during the quarter. Cedar Mountain Advisors LLC’s holdings in NIKE were worth $842,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NKE. Advisors Asset Management Inc. increased its stake in shares of NIKE by 86.0% in the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after acquiring an additional 9,689 shares during the last quarter. FORA Capital LLC bought a new position in NIKE during the first quarter worth about $3,412,000. Cetera Advisors LLC boosted its stake in shares of NIKE by 85.5% during the 1st quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock worth $8,298,000 after acquiring an additional 40,704 shares during the period. Koshinski Asset Management Inc. acquired a new position in shares of NIKE in the first quarter valued at $713,000. Finally, New Mexico Educational Retirement Board lifted its holdings in NIKE by 15.7% during the 1st quarter. New Mexico Educational Retirement Board now owns 74,248 shares of the footwear maker’s stock worth $6,978,000 after purchasing an additional 10,100 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

Shares of NKE stock traded up $0.74 during trading hours on Tuesday, hitting $82.34. 5,733,158 shares of the company were exchanged, compared to its average volume of 11,708,976. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The firm has a fifty day simple moving average of $81.86 and a 200 day simple moving average of $85.49. The stock has a market capitalization of $124.28 billion, a price-to-earnings ratio of 22.09, a P/E/G ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 EPS. Research analysts predict that NIKE, Inc. will post 2.8 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated 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 sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NKE shares. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Stifel Nicolaus reduced their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Citigroup reduced their price objective on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Finally, KeyCorp reissued a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus 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.