Main Street Research LLC Grows Stock Position in NIKE, Inc. (NYSE:NKE)

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Main Street Research LLC raised its holdings in NIKE, Inc. (NYSE:NKE) by 26.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,686 shares of the footwear maker’s stock after buying an additional 779 shares during the quarter. Main Street Research LLC’s holdings in NIKE were worth $463,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Sound Income Strategies LLC increased its holdings in shares of NIKE by 163.8% in the third quarter. Sound Income Strategies LLC now owns 248 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 154 shares during the period. Newfound Research LLC acquired a new position in shares of NIKE in the third quarter valued at about $32,000. Planned Solutions Inc. acquired a new position in shares of NIKE in the third quarter valued at about $32,000. Demars Financial Group LLC acquired a new position in shares of NIKE in the second quarter valued at about $42,000. Finally, University of Texas Texas AM Investment Managment Co. acquired a new position in shares of NIKE in the third quarter valued at about $50,000. Institutional investors own 64.20% of the company’s stock.

In other news, CAO Hilary K. Krane sold 5,670 shares of NIKE stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $123.30, for a total value of $699,111.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 95,906 shares of NIKE stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $127.06, for a total value of $12,185,816.36. Following the completion of the sale, the chairman now directly owns 1,519,541 shares of the company’s stock, valued at $193,072,879.46. The disclosure for this sale can be found here. Insiders sold 767,776 shares of company stock valued at $95,983,137 over the last ninety days. Insiders own 3.80% of the company’s stock.

NKE has been the topic of a number of research reports. Wells Fargo & Company increased their price objective on NIKE from $110.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, September 23rd. BTIG Research raised their target price on NIKE from $140.00 to $152.00 and gave the stock a “buy” rating in a report on Wednesday, September 23rd. Robert W. Baird raised their price objective on NIKE from $95.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, September 22nd. Guggenheim raised their price objective on NIKE from $150.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, September 23rd. Finally, Argus raised their price objective on NIKE from $115.00 to $145.00 in a report on Thursday, September 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. NIKE currently has an average rating of “Buy” and a consensus price target of $137.50.

NYSE:NKE traded up $1.07 on Friday, reaching $132.98. The company’s stock had a trading volume of 4,320,046 shares, compared to its average volume of 7,546,849. NIKE, Inc. has a 12-month low of $60.00 and a 12-month high of $136.35. The company has a quick ratio of 1.77, a current ratio of 2.55 and a debt-to-equity ratio of 1.02. The firm has a market cap of $208.76 billion, a price-to-earnings ratio of 79.63, a price-to-earnings-growth ratio of 2.70 and a beta of 0.82. The stock has a 50 day moving average price of $127.87 and a 200 day moving average price of $108.75.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, September 22nd. The footwear maker reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.49. NIKE had a return on equity of 34.62% and a net margin of 7.20%. The company had revenue of $10.59 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the previous year, the business earned $0.27 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 2.83 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Stockholders of record on Monday, December 7th will be paid a $0.275 dividend. The ex-dividend date is Friday, December 4th. This is a boost from NIKE’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.83%. NIKE’s payout ratio is presently 52.97%.

About NIKE

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, including 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, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other 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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