Flagship Harbor Advisors LLC Has $1.44 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Flagship Harbor Advisors LLC raised its holdings in NIKE, Inc. (NYSE:NKE) by 17.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,040 shares of the footwear maker’s stock after acquiring an additional 1,935 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in NIKE were worth $1,439,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Drake & Associates LLC acquired a new position in shares of NIKE during the 2nd quarter worth about $240,000. Peak Financial Advisors LLC raised its stake in NIKE by 126.6% during the 2nd quarter. Peak Financial Advisors LLC now owns 22,294 shares of the footwear maker’s stock worth $2,461,000 after buying an additional 12,457 shares during the period. Mechanics Bank Trust Department lifted its holdings in NIKE by 8.5% during the second quarter. Mechanics Bank Trust Department now owns 18,034 shares of the footwear maker’s stock worth $1,990,000 after acquiring an additional 1,414 shares in the last quarter. Sanders Morris Harris LLC acquired a new position in NIKE in the second quarter valued at about $451,000. Finally, Evanson Asset Management LLC raised its position in shares of NIKE by 5.4% during the second quarter. Evanson Asset Management LLC now owns 1,924 shares of the footwear maker’s stock worth $212,000 after purchasing an additional 99 shares during the period. Institutional investors and hedge funds own 63.42% of the company’s stock.

NIKE Price Performance

NIKE stock opened at $96.26 on Monday. The firm has a market cap of $147.28 billion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 1.72 and a beta of 1.12. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.72 and a quick ratio of 1.81. The stock’s fifty day moving average price is $104.70 and its two-hundred day moving average price is $112.67. NIKE, Inc. has a one year low of $82.22 and a one year high of $131.31.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). The firm had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.58 billion. NIKE had a return on equity of 34.01% and a net margin of 9.90%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 earnings per share. As a group, research analysts expect that NIKE, Inc. will post 3.71 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Friday, September 1st. NIKE’s payout ratio is presently 42.11%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wells Fargo & Company lowered their target price on NIKE from $130.00 to $120.00 in a research note on Monday. Morgan Stanley dropped their price objective on shares of NIKE from $130.00 to $127.00 and set an “overweight” rating on the stock in a report on Sunday, July 2nd. Raymond James reduced their target price on shares of NIKE from $135.00 to $128.00 and set an “outperform” rating for the company in a research note on Friday, June 30th. Barclays decreased their price objective on NIKE from $127.00 to $124.00 in a report on Friday, June 30th. Finally, Wedbush boosted their target price on NIKE from $129.00 to $131.00 and gave the company an “outperform” rating in a research note on Friday, June 30th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average target price of $129.07.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $108.58, for a total transaction of $11,943,800.00. Following the completion of the transaction, the chairman now owns 1,334,781 shares of the company’s stock, valued at approximately $144,930,520.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $108.58, for a total transaction of $11,943,800.00. Following the sale, the chairman now directly owns 1,334,781 shares of the company’s stock, valued at approximately $144,930,520.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Monique S. Matheson sold 40,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $108.59, for a total transaction of $4,343,600.00. Following the completion of the transaction, the executive vice president now directly owns 44,736 shares of the company’s stock, valued at approximately $4,857,882.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 157,251 shares of company stock valued at $17,063,257. 0.50% of the stock is currently owned by corporate insiders.

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.