NIKE, Inc. $NKE Shares Acquired by Mairs & Power Inc.

Mairs & Power Inc. raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1,058.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,762 shares of the footwear maker’s stock after buying an additional 46,380 shares during the period. Mairs & Power Inc.’s holdings in NIKE were worth $3,540,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NKE. Twin Peaks Wealth Advisors LLC bought a new stake in shares of NIKE during the 2nd quarter worth $31,000. Guerra Advisors Inc acquired a new stake in shares of NIKE during the third quarter worth $34,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of NIKE during the third quarter worth $35,000. Accredited Wealth Management LLC lifted its holdings in shares of NIKE by 268.6% during the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock valued at $36,000 after purchasing an additional 376 shares during the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of NIKE during the third quarter valued at $43,000. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on NKE. Williams Trading dropped their price target on NIKE from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. Barclays raised shares of NIKE from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $64.00 to $73.00 in a research note on Wednesday, March 11th. Berenberg Bank reiterated a “neutral” rating and issued a $70.00 target price on shares of NIKE in a report on Friday, December 19th. Sanford C. Bernstein reissued a “buy” rating on shares of NIKE in a research report on Thursday, March 5th. Finally, Argus cut their price target on shares of NIKE from $85.00 to $70.00 in a report on Tuesday, December 23rd. Twenty-three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.90.

Insider Buying and Selling

In related news, Director Timothy D. Cook bought 50,000 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was purchased at an average price 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 of the company’s stock, valued at $6,220,155.60. This trade represents a 90.12% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Elliott Hill purchased 16,388 shares of the stock in a transaction on Monday, December 29th. The shares were bought at an average price of $61.10 per share, for a total transaction of $1,001,306.80. Following the acquisition, the chief executive officer owned 241,587 shares of the company’s stock, valued at approximately $14,760,965.70. The trade was a 7.28% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 75,079 shares of company stock worth $4,449,887. 0.80% of the stock is currently owned by insiders.

NIKE Trading Up 1.5%

NIKE stock opened at $54.76 on Tuesday. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $80.17. The company has a quick ratio of 1.40, a current ratio of 2.06 and a debt-to-equity ratio of 0.50. The stock has a market cap of $81.07 billion, a P/E ratio of 32.21, a P/E/G ratio of 2.76 and a beta of 1.27. The company’s fifty day simple moving average is $62.34 and its 200-day simple moving average is $65.36.

NIKE (NYSE:NKE) last announced its quarterly earnings data 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. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The business had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.19 billion. During the same period last year, the company earned $0.78 earnings per share. NIKE’s quarterly revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, March 2nd. NIKE’s payout ratio is 96.47%.

NIKE Company 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).