Seven Eight Capital LP Raises Stock Holdings in NIKE, Inc. (NYSE:NKE)

Seven Eight Capital LP boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 999.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,542 shares of the footwear maker’s stock after acquiring an additional 65,034 shares during the quarter. NIKE accounts for 0.6% of Seven Eight Capital LP’s portfolio, making the stock its 16th biggest holding. Seven Eight Capital LP’s holdings in NIKE were worth $5,392,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. 9258 Wealth Management LLC boosted its position in NIKE by 23.9% in the 4th quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock valued at $474,000 after buying an additional 842 shares during the period. Gryphon Financial Partners LLC raised its stake in shares of NIKE by 34.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock valued at $1,259,000 after acquiring an additional 2,981 shares in the last quarter. TrinityPoint Wealth LLC boosted its holdings in shares of NIKE by 0.8% in the fourth quarter. TrinityPoint Wealth LLC now owns 21,561 shares of the footwear maker’s stock valued at $2,341,000 after purchasing an additional 166 shares during the period. Sachetta LLC bought a new position in NIKE in the fourth quarter worth approximately $227,000. Finally, D.A. Davidson & CO. increased its holdings in NIKE by 3.6% during the 4th quarter. D.A. Davidson & CO. now owns 99,143 shares of the footwear maker’s stock worth $10,764,000 after purchasing an additional 3,414 shares during the period. Institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was 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 of the company’s stock, valued at $80,435,628. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

NIKE Stock Performance

Shares of NIKE stock opened at $80.64 on Wednesday. The firm has a market cap of $121.71 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The business’s fifty day simple moving average is $77.52 and its 200-day simple moving average is $87.32.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter last year, the firm posted $0.66 earnings per share. NIKE’s revenue was down 1.6% compared to the same quarter last year. Equities analysts forecast that NIKE, Inc. will post 3.06 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is 39.68%.

Wall Street Analyst Weigh In

NKE has been the topic of a number of recent research reports. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and increased their price target for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. KeyCorp reissued a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 price target on shares of NIKE in a research report on Friday, June 28th. TD Cowen lowered their target price on NIKE from $75.00 to $71.00 and set a “hold” rating for the company in a report on Thursday, July 25th. Finally, Barclays lowered shares of NIKE from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $109.00 to $80.00 in a report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus target price of $95.59.

NIKE 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.