Coastal Bridge Advisors LLC Purchases 180 Shares of NIKE, Inc. (NYSE:NKE)

Coastal Bridge Advisors LLC raised its position in shares of NIKE, Inc. (NYSE:NKE) by 8.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,396 shares of the footwear maker’s stock after acquiring an additional 180 shares during the period. Coastal Bridge Advisors LLC’s holdings in NIKE were worth $370,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. FFT Wealth Management LLC bought a new stake in NIKE during the 2nd quarter valued at approximately $26,000. Princeton Global Asset Management LLC boosted its position in NIKE by 39.8% during the 2nd quarter. Princeton Global Asset Management LLC now owns 246 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 70 shares in the last quarter. Rockbridge Investment Management LCC boosted its position in NIKE by 43.9% during the 2nd quarter. Rockbridge Investment Management LCC now owns 246 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 75 shares in the last quarter. Baldrige Asset Management LLC bought a new stake in NIKE during the 2nd quarter valued at approximately $41,000. Finally, Pflug Koory LLC bought a new stake in NIKE during the 2nd quarter valued at approximately $51,000. 64.45% of the stock is currently owned by institutional investors and hedge funds.

NKE stock traded down $0.94 during mid-day trading on Wednesday, hitting $157.82. The company had a trading volume of 307,829 shares, compared to its average volume of 6,287,462. The company has a market capitalization of $249.64 billion, a price-to-earnings ratio of 43.91, a P/E/G ratio of 2.49 and a beta of 0.87. NIKE, Inc. has a 12-month low of $111.74 and a 12-month high of $174.38. The company has a quick ratio of 2.01, a current ratio of 2.72 and a debt-to-equity ratio of 0.74. The company has a 50-day moving average price of $165.76 and a 200 day moving average price of $146.63.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Wednesday, June 23rd. The footwear maker reported $0.93 EPS for the quarter, topping the consensus estimate of $0.51 by $0.42. The business had revenue of $12.30 billion for the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a net margin of 12.86% and a return on equity of 51.41%. The business’s quarterly revenue was up 94.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.51) EPS. As a group, analysts expect that NIKE, Inc. will post 4.3 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Monday, August 30th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Friday, August 27th. NIKE’s payout ratio is currently 30.90%.

In other news, insider Heidi O’neill sold 25,000 shares of the company’s stock in a transaction dated Friday, June 25th. The shares were sold at an average price of $152.00, for a total transaction of $3,800,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Andrew Campion sold 7,125 shares of the stock in a transaction dated Thursday, August 5th. The stock was sold at an average price of $171.50, for a total transaction of $1,221,937.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 379,671 shares of company stock worth $60,634,427. Corporate insiders own 3.70% of the company’s stock.

Several equities analysts have recently issued reports on the stock. BMO Capital Markets lifted their target price on shares of NIKE from $160.00 to $174.00 and gave the company an “outperform” rating in a report on Friday, June 25th. Morgan Stanley lifted their target price on shares of NIKE from $214.00 to $221.00 and gave the company an “overweight” rating in a report on Tuesday, September 7th. Jefferies Financial Group lifted their target price on shares of NIKE from $192.00 to $200.00 and gave the company a “buy” rating in a report on Friday, June 25th. Telsey Advisory Group boosted their price objective on shares of NIKE from $160.00 to $180.00 in a report on Friday, June 25th. Finally, DZ Bank restated a “sell” rating on shares of NIKE in a report on Friday, June 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $173.26.

About NIKE

NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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