Parkside Financial Bank & Trust Increases Stock Position in NIKE, Inc. (NYSE:NKE)

Parkside Financial Bank & Trust raised its position in shares of NIKE, Inc. (NYSE:NKE) by 8.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,715 shares of the footwear maker’s stock after purchasing an additional 549 shares during the period. Parkside Financial Bank & Trust’s holdings in NIKE were worth $508,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NKE. State Street Corp raised its position in shares of NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP raised its position in shares of NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after purchasing an additional 1,343,093 shares during the last quarter. Geode Capital Management LLC raised its position in shares of NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after purchasing an additional 251,411 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after purchasing an additional 583,207 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 0.7 %

Shares of NYSE:NKE opened at $79.43 on Friday. The stock has a 50 day moving average of $74.64 and a 200 day moving average of $78.33. The company has a market cap of $117.49 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. 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, Inc. has a 12-month low of $68.62 and a 12-month high of $105.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data 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. The company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 EPS. As a group, equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.01%. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Insider Activity at NIKE

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

Analyst Ratings Changes

NKE has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Robert W. Baird lowered their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $75.00 to $115.00 in a report on Monday, February 24th. TD Cowen reduced their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Finally, Guggenheim reiterated a “buy” rating and issued a $110.00 price objective on shares of NIKE in a report on Wednesday, February 12th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.77.

NIKE Company 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.