Advance Capital Management Inc. Makes New Investment in NIKE, Inc. (NYSE:NKE)

Advance Capital Management Inc. purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,382 shares of the footwear maker’s stock, valued at approximately $263,000.

A number of other large investors have also made changes to their positions in NKE. BCK Partners Inc. bought a new stake in shares of NIKE during the 1st quarter valued at about $2,839,000. Loomis Sayles & Co. L P grew its stake in shares of NIKE by 138.2% during the 1st quarter. Loomis Sayles & Co. L P now owns 11,233 shares of the footwear maker’s stock valued at $1,511,000 after purchasing an additional 6,518 shares during the period. Merit Financial Group LLC grew its stake in shares of NIKE by 13.3% during the 1st quarter. Merit Financial Group LLC now owns 1,588 shares of the footwear maker’s stock valued at $214,000 after purchasing an additional 186 shares during the period. Bridgewater Associates LP bought a new stake in shares of NIKE during the 1st quarter valued at about $278,000. Finally, Federated Hermes Inc. grew its stake in shares of NIKE by 9.8% during the 1st quarter. Federated Hermes Inc. now owns 433,950 shares of the footwear maker’s stock valued at $58,392,000 after purchasing an additional 38,903 shares during the period. 63.42% of the stock is currently owned by institutional investors.

NIKE Trading Down 0.2 %

Shares of NKE opened at $96.13 on Thursday. NIKE, Inc. has a twelve month low of $82.22 and a twelve month high of $131.31. The company has a market cap of $147.08 billion, a P/E ratio of 29.76, a P/E/G ratio of 1.73 and a beta of 1.12. The company has a current ratio of 2.72, a quick ratio of 1.81 and a debt-to-equity ratio of 0.64. The company’s fifty day simple moving average is $105.24 and its 200-day simple moving average is $113.14.

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

NIKE Announces Dividend

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

Insider Transactions at NIKE

In other news, EVP Monique S. Matheson sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $108.59, for a total value of $4,343,600.00. Following the transaction, the executive vice president now directly owns 44,736 shares in the company, valued at $4,857,882.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other NIKE news, VP Johanna Nielsen sold 1,706 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $107.00, for a total transaction of $182,542.00. Following the transaction, the vice president now directly owns 954 shares in the company, valued at approximately $102,078. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Monique S. Matheson sold 40,000 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $108.59, for a total transaction of $4,343,600.00. Following the transaction, the executive vice president now owns 44,736 shares in the company, valued at $4,857,882.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 157,251 shares of company stock worth $17,063,257. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NKE. OTR Global downgraded NIKE to a “positive” rating in a research note on Tuesday, June 20th. BNP Paribas downgraded NIKE from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 25th. Erste Group Bank reiterated a “hold” rating on shares of NIKE in a research note on Friday, September 8th. Raymond James cut their price objective on NIKE from $135.00 to $128.00 and set an “outperform” rating for the company in a research note on Friday, June 30th. Finally, JPMorgan Chase & Co. lowered their price target on NIKE from $152.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.28.

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.