Redmond Asset Management LLC Buys New Position in NIKE, Inc. (NYSE:NKE)

Redmond Asset Management LLC bought a new stake in NIKE, Inc. (NYSE:NKE) during the 4th quarter, Holdings Channel.com reports. The firm bought 6,355 shares of the footwear maker’s stock, valued at approximately $481,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Deseret Mutual Benefit Administrators boosted its holdings in NIKE by 8.6% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 3,590 shares of the footwear maker’s stock valued at $272,000 after acquiring an additional 283 shares during the last quarter. Kennon Green & Company LLC boosted its holdings in NIKE by 0.8% in the fourth quarter. Kennon Green & Company LLC now owns 24,323 shares of the footwear maker’s stock valued at $1,841,000 after acquiring an additional 196 shares during the last quarter. Peregrine Asset Advisers Inc. boosted its holdings in NIKE by 2.4% in the fourth quarter. Peregrine Asset Advisers Inc. now owns 14,938 shares of the footwear maker’s stock valued at $1,130,000 after acquiring an additional 348 shares during the last quarter. Blackston Financial Advisory Group LLC boosted its holdings in NIKE by 11.7% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 3,497 shares of the footwear maker’s stock valued at $265,000 after acquiring an additional 365 shares during the last quarter. Finally, Transcend Capital Advisors LLC boosted its holdings in NIKE by 57.1% in the fourth quarter. Transcend Capital Advisors LLC now owns 21,098 shares of the footwear maker’s stock valued at $1,596,000 after acquiring an additional 7,666 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly 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 disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the topic of a number of research analyst reports. UBS Group restated a “neutral” rating and set a $73.00 price target on shares of NIKE in a report on Thursday, December 26th. Guggenheim restated a “buy” rating and set a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Barclays cut their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company cut their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Finally, DA Davidson upgraded NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.62.

NIKE Trading Down 0.9 %

NYSE NKE opened at $76.50 on Friday. The firm has a market capitalization of $113.15 billion, a P/E ratio of 23.61, a PEG ratio of 2.52 and a beta of 1.01. The business has a fifty day simple moving average of $74.31 and a 200 day simple moving average of $78.13. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $106.62. 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 released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 EPS. On average, analysts predict 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. Stockholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is presently 49.38%.

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.