NIKE, Inc. (NYSE:NKE) Stock Position Increased by Mitchell & Pahl Private Wealth LLC

Mitchell & Pahl Private Wealth LLC increased its position in NIKE, Inc. (NYSE:NKE) by 39.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 13,664 shares of the footwear maker’s stock after acquiring an additional 3,889 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in NIKE were worth $1,208,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Longview Partners Guernsey LTD bought a new position in shares of NIKE during the 1st quarter valued at about $533,533,000. Capital World Investors boosted its holdings in NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after buying an additional 4,457,376 shares in the last quarter. Jennison Associates LLC grew its position in NIKE by 45.6% in the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after buying an additional 2,775,510 shares during the last quarter. PineStone Asset Management Inc. grew its position in NIKE by 138.3% in the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock worth $204,681,000 after buying an additional 1,576,049 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of NIKE by 351.7% in the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after buying an additional 1,550,611 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Down 0.1 %

NKE stock traded down $0.11 during trading hours on Thursday, hitting $83.83. The company’s stock had a trading volume of 3,986,101 shares, compared to its average volume of 11,698,327. The stock has a 50 day moving average price of $82.28 and a two-hundred day moving average price of $85.40. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a market capitalization of $126.53 billion, a PE ratio of 22.48, 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 (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the prior year, the company posted $0.94 earnings per share. NIKE’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, equities research analysts expect that NIKE, Inc. will post 2.8 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio is 39.68%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred 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 in the company, valued at $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of recent research reports. Stifel Nicolaus decreased their target price on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Citigroup dropped their price target on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Bank of America reduced 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. Telsey Advisory Group dropped their target price on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Finally, Robert W. Baird boosted their price target on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Fourteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.56.

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.