Rhumbline Advisers Purchases 11,802 Shares of NIKE, Inc. $NKE

Rhumbline Advisers boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 0.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,195,955 shares of the footwear maker’s stock after purchasing an additional 11,802 shares during the period. Rhumbline Advisers owned about 0.15% of NIKE worth $153,124,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Twin Peaks Wealth Advisors LLC acquired a new stake in NIKE in the second quarter valued at about $31,000. Guerra Advisors Inc acquired a new position in NIKE during the third quarter worth about $34,000. NewSquare Capital LLC lifted its holdings in shares of NIKE by 54.4% in the second quarter. NewSquare Capital LLC now owns 732 shares of the footwear maker’s stock worth $52,000 after acquiring an additional 258 shares during the last quarter. Field & Main Bank lifted its holdings in shares of NIKE by 36.4% in the second quarter. Field & Main Bank now owns 750 shares of the footwear maker’s stock worth $53,000 after acquiring an additional 200 shares during the last quarter. Finally, Financial Consulate Inc. acquired a new stake in shares of NIKE in the 3rd quarter valued at approximately $57,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $62.37 on Thursday. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. The firm’s fifty day simple moving average is $63.69 and its two-hundred day simple moving average is $68.01. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44. The stock has a market capitalization of $92.33 billion, a P/E ratio of 36.69, a price-to-earnings-growth ratio of 3.23 and a beta of 1.27.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.16. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.19 billion. NIKE had a net margin of 5.43% and a return on equity of 18.43%. NIKE’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 earnings per share. As a group, analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.6%. This is an increase from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, December 1st. NIKE’s dividend payout ratio is currently 96.47%.

Insider Buying and Selling

In other NIKE news, CEO Elliott Hill acquired 16,388 shares of NIKE stock in a transaction on Monday, December 29th. The stock was purchased at an average price of $61.10 per share, for a total transaction of $1,001,306.80. Following the purchase, the chief executive officer directly owned 241,587 shares of the company’s stock, valued at $14,760,965.70. This trade represents a 7.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Timothy D. Cook bought 50,000 shares of NIKE stock in a transaction dated Monday, December 22nd. The shares were bought at an average cost of $58.97 per share, with a total value of $2,948,500.00. Following the completion of the transaction, the director directly owned 105,480 shares in the company, valued at approximately $6,220,155.60. This trade represents a 90.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 75,079 shares of company stock worth $4,449,887. 0.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NKE has been the subject of a number of research analyst reports. Needham & Company LLC cut shares of NIKE from a “buy” rating to a “hold” rating in a research report on Thursday, January 8th. Stifel Nicolaus set a $65.00 price target on shares of NIKE and gave the stock a “hold” rating in a report on Friday, December 19th. Jefferies Financial Group reissued a “buy” rating and set a $110.00 price objective on shares of NIKE in a report on Monday, January 12th. JPMorgan Chase & Co. reduced their price objective on NIKE from $100.00 to $86.00 and set a “buy” rating on the stock in a research report on Monday, November 17th. Finally, Daiwa Securities Group lowered their target price on NIKE from $75.00 to $61.00 in a report on Tuesday, December 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.61.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).