Paragon Capital Management LLC boosted its holdings in shares of Nike Inc (NYSE:NKE) by 1,578.4% in the third quarter, HoldingsChannel.com reports. The fund owned 142,517 shares of the footwear maker’s stock after buying an additional 134,026 shares during the quarter. Nike accounts for 4.8% of Paragon Capital Management LLC’s portfolio, making the stock its 4th biggest holding. Paragon Capital Management LLC’s holdings in Nike were worth $12,074,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NKE. Alliancebernstein L.P. lifted its holdings in Nike by 7.8% in the 3rd quarter. Alliancebernstein L.P. now owns 14,064,449 shares of the footwear maker’s stock worth $1,191,540,000 after purchasing an additional 1,015,073 shares during the last quarter. National Asset Management Inc. lifted its holdings in Nike by 4.7% in the 3rd quarter. National Asset Management Inc. now owns 14,586 shares of the footwear maker’s stock worth $1,237,000 after purchasing an additional 655 shares during the last quarter. Jennison Associates LLC lifted its holdings in Nike by 9.2% in the 3rd quarter. Jennison Associates LLC now owns 16,095,107 shares of the footwear maker’s stock worth $1,363,577,000 after purchasing an additional 1,354,484 shares during the last quarter. Stelac Advisory Services LLC acquired a new stake in Nike in the 3rd quarter worth approximately $115,000. Finally, Sei Investments Co. lifted its holdings in Nike by 5.3% in the 3rd quarter. Sei Investments Co. now owns 702,479 shares of the footwear maker’s stock worth $59,526,000 after purchasing an additional 35,264 shares during the last quarter. Hedge funds and other institutional investors own 64.72% of the company’s stock.

In other Nike news, EVP Monique S. Matheson sold 17,000 shares of the company’s stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $83.15, for a total value of $1,413,550.00. Following the sale, the executive vice president now directly owns 104,737 shares in the company, valued at $8,708,881.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Johnathan A. Rodgers sold 16,000 shares of the company’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $85.05, for a total value of $1,360,800.00. Following the completion of the sale, the director now owns 26,963 shares in the company, valued at $2,293,203.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,000 shares of company stock worth $4,219,350. 3.90% of the stock is currently owned by company insiders.

NKE has been the subject of several analyst reports. Needham & Company LLC restated a “neutral” rating on shares of Nike in a report on Thursday, September 13th. HSBC set a $92.00 target price on Nike and gave the stock a “buy” rating in a report on Thursday, September 6th. Daiwa Capital Markets set a $85.00 target price on Nike and gave the stock a “hold” rating in a report on Monday, October 1st. Pivotal Research set a $85.00 target price on Nike and gave the stock a “hold” rating in a report on Friday, September 21st. Finally, Oppenheimer upgraded Nike from a “market perform” rating to an “outperform” rating and set a $90.00 target price for the company in a report on Thursday, October 18th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-four have issued a buy rating to the company. Nike has an average rating of “Buy” and a consensus price target of $85.74.

NKE opened at $72.52 on Tuesday. The company has a market cap of $118.70 billion, a PE ratio of 29.90, a PEG ratio of 2.34 and a beta of 0.77. The company has a current ratio of 2.31, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39. Nike Inc has a 1 year low of $57.98 and a 1 year high of $86.04.

Nike (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The business had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $9.92 billion. Nike had a return on equity of 40.69% and a net margin of 5.57%. Nike’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 earnings per share. As a group, research analysts predict that Nike Inc will post 2.62 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd will be given a dividend of $0.22 per share. The ex-dividend date is Friday, November 30th. This is a boost from Nike’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.21%. Nike’s payout ratio is currently 33.06%.

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About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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