Jacobi Capital Management LLC Acquires 508 Shares of NIKE, Inc. (NYSE:NKE)

Jacobi Capital Management LLC boosted its holdings in NIKE, Inc. (NYSE:NKE) by 12.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,532 shares of the footwear maker’s stock after buying an additional 508 shares during the quarter. Jacobi Capital Management LLC’s holdings in NIKE were worth $426,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Annapolis Financial Services LLC raised its holdings in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares during the last quarter. Iron Horse Wealth Management LLC increased its position in NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Planned Solutions Inc. acquired a new stake in NIKE during the 4th quarter valued at approximately $29,000. True Wealth Design LLC increased its position in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new stake in NIKE during the 4th quarter valued at approximately $33,000. Institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the stock in a transaction dated 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 purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE 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 sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Insiders have sold 323,660 shares of company stock worth $27,973,033 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of NIKE from $115.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Wedbush decreased their target price on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. HSBC decreased their target price on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Morgan Stanley reaffirmed an “equal weight” rating and set a $79.00 price objective (down previously from $114.00) on shares of NIKE in a research report on Friday, June 28th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $120.00 price objective on shares of NIKE in a research report on Friday, June 28th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $96.44.

NIKE Stock Down 0.8 %

NYSE:NKE traded down $0.61 during trading hours on Tuesday, hitting $74.25. 2,664,431 shares of the company traded hands, compared to its average volume of 11,358,321. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The firm’s 50-day simple moving average is $87.10 and its 200-day simple moving average is $94.49. NIKE, Inc. has a one year low of $71.24 and a one year high of $123.39. The company has a market cap of $112.07 billion, a PE ratio of 20.01, a PEG ratio of 1.89 and a beta of 1.01.

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

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s payout ratio is 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.