CX Institutional Makes New $5.20 Million Investment in NIKE, Inc. (NYSE:NKE)

CX Institutional purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 58,762 shares of the footwear maker’s stock, valued at approximately $5,195,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fiduciary Alliance LLC increased its position in shares of NIKE by 74.0% in the 3rd quarter. Fiduciary Alliance LLC now owns 4,771 shares of the footwear maker’s stock valued at $422,000 after acquiring an additional 2,029 shares during the period. Stablepoint Partners LLC grew its stake in NIKE by 16.6% during the 3rd quarter. Stablepoint Partners LLC now owns 12,377 shares of the footwear maker’s stock valued at $1,094,000 after purchasing an additional 1,765 shares during the last quarter. Procyon Advisors LLC grew its stake in NIKE by 389.9% during the 3rd quarter. Procyon Advisors LLC now owns 28,100 shares of the footwear maker’s stock valued at $2,485,000 after purchasing an additional 22,364 shares during the last quarter. VitalStone Financial LLC increased its holdings in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Finally, Smith Chas P & Associates PA Cpas purchased a new position in shares of NIKE in the third quarter worth about $220,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s 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 transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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 shares were 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 directly owns 1,031,226 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the company’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 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NKE shares. The Goldman Sachs Group dropped their target price on NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. UBS Group increased their price objective on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Bank of America reduced their target price on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Morgan Stanley lifted their price objective on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $96.56.

NIKE Trading Up 0.7 %

Shares of NKE opened at $82.14 on Wednesday. The firm’s fifty day moving average is $82.05 and its two-hundred day moving average is $85.41. The stock has a market cap of $123.98 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. 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, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39.

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

NIKE Announces Dividend

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. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.80%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

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.