Integrated Advisors Network LLC Purchases 8,572 Shares of NIKE, Inc. (NYSE:NKE)

Integrated Advisors Network LLC raised its position in NIKE, Inc. (NYSE:NKE) by 85.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,607 shares of the footwear maker’s stock after purchasing an additional 8,572 shares during the quarter. Integrated Advisors Network LLC’s holdings in NIKE were worth $1,645,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Transcendent Capital Group LLC lifted its stake in shares of NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 200 shares during the last quarter. VitalStone Financial LLC increased its stake in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the period. Bruce G. Allen Investments LLC lifted its position in shares of NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of NIKE during the second quarter valued at $44,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of NIKE in the second quarter worth about $46,000. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NKE shares. Morgan Stanley boosted their price objective on shares of NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. JPMorgan Chase & Co. dropped their price objective on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Guggenheim decreased their target price on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. TD Cowen upped their target price on NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada cut their price target on NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 2nd. Fourteen research 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.56.

Insider Activity

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on 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 transaction, the chairman now owns 1,031,226 shares of the company’s stock, 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 this hyperlink. Insiders own 1.10% of the company’s stock.

NIKE Trading Down 0.6 %

Shares of NIKE stock opened at $78.44 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The firm’s 50 day simple moving average is $82.52 and its two-hundred day simple moving average is $84.72. 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 $117.61 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 1.90 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the prior year, the company earned $0.94 earnings per share. The company’s revenue was down 10.4% on a year-over-year basis. Analysts predict that NIKE, Inc. will post 2.76 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s payout ratio is 42.41%.

NIKE 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.