Vest Financial LLC Acquires 93,559 Shares of NIKE, Inc. (NYSE:NKE)

Vest Financial LLC raised its holdings in NIKE, Inc. (NYSE:NKE) by 40.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 324,121 shares of the footwear maker’s stock after purchasing an additional 93,559 shares during the quarter. Vest Financial LLC’s holdings in NIKE were worth $28,652,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Ascent Wealth Partners LLC increased its stake in shares of NIKE by 0.4% during the first quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after purchasing an additional 115 shares during the period. Condor Capital Management increased its stake in shares of NIKE by 0.4% during the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after purchasing an additional 116 shares during the period. Lodestone Wealth Management LLC increased its stake in shares of 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 period. Nvwm LLC increased its stake in shares of 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, Stephens Consulting LLC grew its position in NIKE by 20.0% during the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after buying an additional 128 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on NKE. Evercore ISI reduced their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. HSBC reduced their target price on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Telsey Advisory Group reduced their target price on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. KeyCorp reissued a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Finally, Williams Trading raised NIKE from a “sell” rating to a “buy” rating and raised their price objective for the company from $67.00 to $93.00 in a report on Friday, August 16th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average price target of $96.56.

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 shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

NIKE Trading Down 0.6 %

Shares of NIKE stock traded down $0.48 on Friday, hitting $82.92. The stock had a trading volume of 7,214,787 shares, compared to its average volume of 11,701,926. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The stock’s 50-day simple moving average is $82.64 and its two-hundred day simple moving average is $85.28. The stock has a market cap of $125.16 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the prior year, the company posted $0.94 earnings per share. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, sell-side analysts predict that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 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.