Farmers & Merchants Investments Inc. Has $10.11 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Farmers & Merchants Investments Inc. raised its stake in NIKE, Inc. (NYSE:NKE) by 2.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 134,093 shares of the footwear maker’s stock after acquiring an additional 3,643 shares during the period. Farmers & Merchants Investments Inc.’s holdings in NIKE were worth $10,107,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NKE. Beta Wealth Group Inc. lifted 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 valued at $489,000 after acquiring an additional 101 shares in the last quarter. Kampmann Melissa S. boosted its position in shares of NIKE by 0.8% during the fourth quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock worth $1,634,000 after buying an additional 115 shares during the period. Ascent Wealth Partners LLC grew its holdings in shares of NIKE by 0.4% during the first quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after buying an additional 115 shares in the last quarter. Condor Capital Management grew its holdings in shares of NIKE by 0.4% during the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after buying an additional 116 shares in the last quarter. Finally, Bell Investment Advisors Inc raised its position in NIKE by 4.7% in the 4th quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock valued at $283,000 after buying an additional 118 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

NYSE NKE traded up $0.87 during trading on Friday, reaching $81.70. The company’s stock had a trading volume of 649,609 shares, compared to its average volume of 11,368,831. The firm has a 50 day moving average price of $76.83 and a 200 day moving average price of $88.94. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The firm has a market capitalization of $123.31 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion for 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 business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 earnings per share. As a group, equities analysts anticipate that NIKE, Inc. will post 3.1 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.81%. NIKE’s dividend payout ratio is currently 39.68%.

Insiders Place Their Bets

In other 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 value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was 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 $80,435,628. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Thursday, July 18th. The shares were 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 $80,419,507.30. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NKE. TD Cowen decreased their price target on shares of NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a research note on Thursday, July 25th. Raymond James reiterated a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. Stifel Nicolaus cut their price target 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. Wells Fargo & Company decreased their price objective on NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a report on Friday, June 28th. Finally, BMO Capital Markets dropped their target price on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target of $95.59.

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.