MCF Advisors LLC Increases Holdings in NIKE, Inc. (NYSE:NKE)

MCF Advisors LLC grew its holdings in NIKE, Inc. (NYSE:NKE) by 23.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,750 shares of the footwear maker’s stock after acquiring an additional 1,462 shares during the quarter. MCF Advisors LLC’s holdings in NIKE were worth $686,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Longview Partners Guernsey LTD acquired a new position in shares of NIKE in the 1st quarter valued at $533,533,000. Capital World Investors boosted its stake in NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after acquiring an additional 4,457,376 shares in the last quarter. Jennison Associates LLC boosted its stake in NIKE by 45.6% in the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after acquiring an additional 2,775,510 shares in the last quarter. PineStone Asset Management Inc. increased its position in shares of NIKE by 138.3% during the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock worth $204,681,000 after purchasing an additional 1,576,049 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of NIKE by 351.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after purchasing an additional 1,550,611 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred 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 transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NKE shares. KeyCorp restated a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. Oppenheimer restated an “outperform” rating and set a $120.00 target price on shares of NIKE in a research report on Friday, June 28th. Wells Fargo & Company upped their price target on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Stifel Nicolaus lowered their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, August 26th. Finally, Citigroup reduced their target price on shares of NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a report on Friday, June 28th. 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, the company has an average rating of “Moderate Buy” and a consensus target price of $96.56.

NIKE Price Performance

Shares of NKE traded down $0.19 on Friday, reaching $78.85. The stock had a trading volume of 9,385,379 shares, compared to its average volume of 11,607,228. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The firm has a market capitalization of $118.22 billion, a PE ratio of 22.59, a PEG ratio of 1.95 and a beta of 1.02. The firm has a 50-day moving average of $82.71 and a 200 day moving average of $84.98. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter last year, the business posted $0.94 earnings per share. Sell-side analysts expect that NIKE, Inc. will post 2.78 EPS for the current year.

NIKE Dividend Announcement

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

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.