Main Street Research LLC Has $239,000 Stock Position in NIKE, Inc. (NYSE:NKE)

Main Street Research LLC boosted its holdings in NIKE, Inc. (NYSE:NKE) by 22.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,147 shares of the footwear maker’s stock after buying an additional 580 shares during the period. Main Street Research LLC’s holdings in NIKE were worth $239,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. CWA Asset Management Group LLC acquired a new stake in shares of NIKE during the 3rd quarter valued at about $1,395,000. Verdence Capital Advisors LLC boosted its holdings in NIKE by 21.0% during the third quarter. Verdence Capital Advisors LLC now owns 3,801 shares of the footwear maker’s stock valued at $336,000 after purchasing an additional 660 shares in the last quarter. Kerusso Capital Management LLC bought a new stake in shares of NIKE in the 3rd quarter valued at approximately $1,757,000. Proficio Capital Partners LLC raised its holdings in shares of NIKE by 7.9% in the 3rd quarter. Proficio Capital Partners LLC now owns 20,335 shares of the footwear maker’s stock worth $1,798,000 after buying an additional 1,497 shares in the last quarter. Finally, XML Financial LLC bought a new position in shares of NIKE during the 3rd quarter worth approximately $237,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by insiders.

NIKE Trading Up 1.3 %

NYSE NKE opened at $78.68 on Monday. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $102.49. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average of $74.76 and a 200-day moving average of $78.14. The company has a market cap of $116.38 billion, a PE ratio of 24.28, a PEG ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the prior year, the firm earned $1.03 EPS. NIKE’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is presently 49.38%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NKE. Needham & Company LLC restated a “buy” rating and issued a $84.00 target price on shares of NIKE in a research note on Friday, February 7th. TD Cowen reduced their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $102.00 to $72.00 in a report on Friday, February 7th. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, Stifel Nicolaus dropped their price target on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.77.

About NIKE

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.