Main Street Research LLC Decreases Stock Holdings in NIKE, Inc. (NYSE:NKE)

Main Street Research LLC lowered its holdings in shares of NIKE, Inc. (NYSE:NKE) by 6.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,940 shares of the footwear maker’s stock after selling 187 shares during the quarter. Main Street Research LLC’s holdings in NIKE were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NKE. Moneta Group Investment Advisors LLC increased its position in shares of NIKE by 139,649.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 16,813,307 shares of the footwear maker’s stock valued at $1,967,325,000 after purchasing an additional 16,801,276 shares during the last quarter. Norges Bank purchased a new stake in shares of NIKE during the 4th quarter valued at about $1,345,203,000. Newport Trust Company LLC purchased a new stake in shares of NIKE during the 3rd quarter valued at about $679,775,000. Morgan Stanley increased its position in shares of NIKE by 26.4% during the 4th quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock valued at $3,594,561,000 after purchasing an additional 6,410,744 shares during the last quarter. Finally, Flossbach Von Storch AG grew its stake in shares of NIKE by 433.5% during the 3rd quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock valued at $394,775,000 after acquiring an additional 3,354,677 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NKE. Williams Trading reiterated a “sell” rating and set a $85.00 price objective (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. Wedbush reiterated an “outperform” rating and set a $115.00 price objective on shares of NIKE in a research note on Wednesday, March 27th. Sanford C. Bernstein cut their price objective on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. HSBC dropped their price target on NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Monday, January 22nd. Finally, Bank of America upgraded NIKE from a “neutral” rating to a “buy” rating and upped their price target for the stock from $110.00 to $113.00 in a research note on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $116.26.

NIKE Stock Up 0.8 %

Shares of NYSE NKE traded up $0.78 during trading hours on Tuesday, hitting $93.88. 6,803,960 shares of the stock were exchanged, compared to its average volume of 9,522,918. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The company has a market cap of $141.70 billion, a PE ratio of 27.34, a PEG ratio of 1.79 and a beta of 1.09. The firm has a fifty day moving average price of $98.83 and a 200-day moving average price of $103.49. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $128.68.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. On average, sell-side analysts expect that NIKE, Inc. will post 3.7 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, March 1st. This represents a $1.48 annualized dividend and a dividend yield of 1.58%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

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.