Harfst & Associates Inc. Boosts Stock Position in NIKE, Inc. (NYSE:NKE)

Harfst & Associates Inc. boosted its position in NIKE, Inc. (NYSE:NKE) by 7.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,092 shares of the footwear maker’s stock after buying an additional 1,753 shares during the period. Harfst & Associates Inc.’s holdings in NIKE were worth $2,218,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of NKE. Ascent Wealth Partners LLC grew its holdings in NIKE by 0.4% in the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after buying an additional 115 shares during the period. Condor Capital Management grew its holdings in NIKE by 0.4% in the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock valued at $2,451,000 after purchasing an additional 116 shares during the period. Lodestone Wealth Management LLC increased its position in NIKE by 5.5% during the first quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock worth $211,000 after purchasing an additional 118 shares during the last quarter. Nvwm LLC raised its stake in NIKE by 1.0% during the first quarter. Nvwm LLC now owns 11,568 shares of the footwear maker’s stock worth $1,091,000 after purchasing an additional 120 shares during the period. Finally, Pitcairn Co. raised its stake in NIKE by 0.5% during the first quarter. Pitcairn Co. now owns 29,067 shares of the footwear maker’s stock worth $2,732,000 after purchasing an additional 132 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NKE. Royal Bank of Canada dropped their price objective on NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a report on Wednesday, October 2nd. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and raised their price objective for the stock from $67.00 to $93.00 in a report on Friday, August 16th. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Barclays cut their price target on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Finally, Bank of America decreased their price objective on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.56.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’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 owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

NIKE Stock Down 0.6 %

NYSE:NKE traded down $0.48 during mid-day trading on Friday, reaching $82.92. The stock had a trading volume of 7,214,787 shares, compared to its average volume of 11,701,926. The stock’s 50 day simple moving average is $82.64 and its two-hundred day simple moving average is $85.32. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The company has a market capitalization of $125.16 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

NIKE (NYSE:NKE) last issued 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. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the previous year, the business earned $0.94 EPS. The business’s quarterly revenue was down 10.4% on a year-over-year basis. Equities analysts anticipate that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Announces Dividend

The firm 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 of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. NIKE’s payout ratio is currently 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.