Holderness Investments Co. Grows Holdings in NIKE, Inc. (NYSE:NKE)

Holderness Investments Co. grew its stake in NIKE, Inc. (NYSE:NKE) by 2.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,185 shares of the footwear maker’s stock after buying an additional 420 shares during the quarter. Holderness Investments Co.’s holdings in NIKE were worth $1,300,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NKE. Heck Capital Advisors LLC bought a new stake in shares of NIKE in the 4th quarter worth approximately $28,000. Caitlin John LLC lifted its holdings in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE in the 3rd quarter worth approximately $30,000. Roxbury Financial LLC bought a new stake in shares of NIKE in the 4th quarter worth approximately $30,000. Finally, LFA Lugano Financial Advisors SA lifted its holdings in shares of NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction 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 completion of the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

NIKE Stock Down 1.9 %

Shares of NYSE:NKE opened at $71.61 on Friday. The stock has a fifty day simple moving average of $74.77 and a two-hundred day simple moving average of $77.56. The stock has a market capitalization of $105.92 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 12-month low of $67.66 and a 12-month high of $101.92. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The business had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 earnings per share. On average, research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is 49.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Evercore ISI lowered their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and lowered their price target for the company from $102.00 to $72.00 in a report on Friday, February 7th. Barclays lowered their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Finally, Morgan Stanley lowered their price target on shares of NIKE from $74.00 to $72.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.54.

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.