Delta Financial Advisors LLC Has $2.48 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Delta Financial Advisors LLC cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,856 shares of the footwear maker’s stock after selling 587 shares during the period. Delta Financial Advisors LLC’s holdings in NIKE were worth $2,476,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Annapolis Financial Services LLC grew its stake in shares of NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares in the last quarter. True Wealth Design LLC boosted its holdings in NIKE by 106.4% in 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. Core Wealth Advisors Inc. grew its position in shares of NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of NIKE during the fourth quarter worth approximately $33,000. Finally, Gold Investment Management Ltd. acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $36,000. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the subject of several analyst reports. Evercore ISI dropped their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 price target on shares of NIKE in a research note on Friday, June 28th. Wedbush reduced their price objective on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Robert W. Baird dropped their target price 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. Finally, Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and increased their price target for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.59.

NIKE Trading Down 0.2 %

NYSE NKE opened at $80.63 on Friday. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $121.70 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02. The business’s 50-day moving average price is $76.94 and its two-hundred day moving average price is $88.68.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter last year, the business earned $0.66 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. On average, analysts expect that NIKE, Inc. will post 3.1 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Activity

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm’s 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 completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Chairman Mark G. Parker sold 110,000 shares of the business’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 sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The stock was purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is owned by company 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.