Keystone Financial Group Raises Position in NIKE, Inc. (NYSE:NKE)

Keystone Financial Group raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 271.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 37,497 shares of the footwear maker’s stock after acquiring an additional 27,401 shares during the period. Keystone Financial Group’s holdings in NIKE were worth $2,749,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NKE. JNBA Financial Advisors increased its stake in shares of NIKE by 1.3% in the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock worth $760,000 after acquiring an additional 131 shares during the period. Nations Financial Group Inc. IA ADV boosted its holdings in NIKE by 0.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after purchasing an additional 136 shares during the last quarter. Elgethun Capital Management grew its position in NIKE by 13.7% during the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock worth $94,000 after purchasing an additional 149 shares during the period. GAMMA Investing LLC raised its stake in shares of NIKE by 1.0% during the 4th quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock valued at $1,136,000 after buying an additional 150 shares during the last quarter. Finally, Game Plan Financial Advisors LLC lifted its holdings in shares of NIKE by 11.1% in the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock valued at $114,000 after buying an additional 150 shares during the period. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated 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 directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Holmes Swan purchased 8,600 shares of the business’s stock in a transaction on Friday, April 4th. The shares were acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This trade represents a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on NKE shares. Bank of America dropped their target price on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Telsey Advisory Group restated a “market perform” rating and set a $80.00 price target on shares of NIKE in a research report on Monday, March 17th. JPMorgan Chase & Co. lowered their target price on shares of NIKE from $73.00 to $64.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Morgan Stanley lowered their price target on NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Finally, Barclays decreased their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Fifteen investment 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. Based on data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average price target of $86.19.

NIKE Price Performance

NKE stock opened at $54.44 on Friday. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The stock has a market cap of $80.52 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15. The business has a fifty day moving average of $70.03 and a two-hundred day moving average of $74.93.

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

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.94%. NIKE’s payout ratio is currently 53.16%.

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.