Nike Inc (NYSE:NKE) Stake Boosted by Paragon Capital Management LLC

Paragon Capital Management LLC lifted its stake in shares of Nike Inc (NYSE:NKE) by 1.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 128,262 shares of the footwear maker’s stock after buying an additional 2,265 shares during the quarter. Nike comprises 4.8% of Paragon Capital Management LLC’s portfolio, making the stock its 5th largest position. Paragon Capital Management LLC’s holdings in Nike were worth $10,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in NKE. Cable Hill Partners LLC boosted its stake in Nike by 0.9% during the second quarter. Cable Hill Partners LLC now owns 25,933 shares of the footwear maker’s stock worth $2,177,000 after acquiring an additional 227 shares in the last quarter. Waters Parkerson & CO. LLC boosted its stake in Nike by 0.9% during the second quarter. Waters Parkerson & CO. LLC now owns 366,352 shares of the footwear maker’s stock worth $30,755,000 after acquiring an additional 3,325 shares in the last quarter. Altshuler Shaham Ltd boosted its stake in Nike by 8.4% during the second quarter. Altshuler Shaham Ltd now owns 46,831 shares of the footwear maker’s stock worth $3,939,000 after acquiring an additional 3,638 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in Nike by 8.4% during the second quarter. Parkside Financial Bank & Trust now owns 2,478 shares of the footwear maker’s stock worth $208,000 after acquiring an additional 193 shares in the last quarter. Finally, Enlightenment Research LLC bought a new stake in Nike during the second quarter worth about $864,000. Institutional investors own 66.41% of the company’s stock.

In other news, insider Elliott Hill sold 34,100 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $88.34, for a total value of $3,012,394.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Hilary K. Krane sold 17,903 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $88.70, for a total transaction of $1,587,996.10. The disclosure for this sale can be found here. Insiders have sold a total of 194,637 shares of company stock worth $16,767,237 in the last three months. Insiders own 3.80% of the company’s stock.

Several equities research analysts recently commented on NKE shares. Pivotal Research set a $101.00 price objective on shares of Nike and gave the stock a “buy” rating in a research note on Friday, June 28th. Piper Jaffray Companies set a $97.00 price objective on shares of Nike and gave the stock a “buy” rating in a research note on Friday, June 28th. Deutsche Bank set a $100.00 price objective on shares of Nike and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Credit Suisse Group reissued a “buy” rating and set a $97.00 price objective on shares of Nike in a research note on Friday, June 28th. Finally, Stifel Nicolaus set a $96.00 price objective on shares of Nike and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $90.33.

NKE stock traded down $2.44 during trading on Friday, hitting $80.87. The company had a trading volume of 1,972,191 shares, compared to its average volume of 6,168,882. The firm has a market capitalization of $126.18 billion, a P/E ratio of 32.48, a PEG ratio of 2.13 and a beta of 0.78. Nike Inc has a 52-week low of $66.53 and a 52-week high of $90.00. The company has a 50 day simple moving average of $84.83 and a 200-day simple moving average of $84.60. The company has a quick ratio of 1.39, a current ratio of 2.10 and a debt-to-equity ratio of 0.38.

Nike (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.04). The business had revenue of $10.18 billion for the quarter, compared to analysts’ expectations of $10.15 billion. Nike had a net margin of 10.30% and a return on equity of 45.12%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the business posted $0.69 EPS. Sell-side analysts forecast that Nike Inc will post 2.9 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Friday, August 30th. Nike’s dividend payout ratio (DPR) is 35.34%.

Nike Company Profile

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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