SlateStone Wealth LLC Boosts Stake in Nike Inc (NYSE:NKE)

SlateStone Wealth LLC increased its position in Nike Inc (NYSE:NKE) by 16.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,087 shares of the footwear maker’s stock after buying an additional 3,746 shares during the period. SlateStone Wealth LLC’s holdings in Nike were worth $2,643,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NKE. Private Ocean LLC raised its position in Nike by 38.8% during the third quarter. Private Ocean LLC now owns 2,376 shares of the footwear maker’s stock valued at $224,000 after purchasing an additional 664 shares during the period. Boston Advisors LLC raised its position in Nike by 12.6% during the third quarter. Boston Advisors LLC now owns 101,036 shares of the footwear maker’s stock valued at $9,489,000 after purchasing an additional 11,298 shares during the period. Klingenstein Fields & Co. LLC raised its position in Nike by 8.9% during the third quarter. Klingenstein Fields & Co. LLC now owns 6,857 shares of the footwear maker’s stock valued at $644,000 after purchasing an additional 560 shares during the period. Resources Management Corp CT ADV purchased a new stake in Nike during the third quarter valued at approximately $144,000. Finally, Worldquant Millennium Advisors LLC raised its position in Nike by 685.1% during the third quarter. Worldquant Millennium Advisors LLC now owns 394,690 shares of the footwear maker’s stock valued at $37,069,000 after purchasing an additional 344,420 shares during the period. Institutional investors own 65.30% of the company’s stock.

In related news, CEO Mark G. Parker sold 165,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $93.55, for a total value of $15,435,750.00. Following the transaction, the chief executive officer now owns 2,046,040 shares of the company’s stock, valued at $191,407,042. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Hilary K. Krane sold 28,000 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $101.00, for a total value of $2,828,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 436,916 shares of company stock worth $43,122,614. 3.80% of the stock is owned by insiders.

NKE has been the topic of a number of recent research reports. Credit Suisse Group set a $112.00 price objective on Nike and gave the company a “buy” rating in a research report on Wednesday, January 1st. Barclays initiated coverage on Nike in a research report on Tuesday, November 12th. They set an “overweight” rating and a $111.00 price objective on the stock. Evercore ISI initiated coverage on Nike in a research report on Friday, December 20th. They set a “buy” rating and a $150.00 price objective on the stock. Wedbush restated an “outperform” rating and set a $110.00 price objective (up from $100.00) on shares of Nike in a research report on Wednesday, December 11th. Finally, Pivotal Research upped their price objective on Nike from $114.00 to $117.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $107.54.

Shares of NKE traded up $0.17 during mid-day trading on Friday, reaching $103.54. 4,305,173 shares of the company’s stock traded hands, compared to its average volume of 5,847,435. The stock has a market cap of $155.77 billion, a P/E ratio of 36.20, a P/E/G ratio of 2.40 and a beta of 0.83. The stock’s 50-day moving average is $101.28 and its two-hundred day moving average is $92.83. Nike Inc has a 12 month low of $77.07 and a 12 month high of $105.62. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.98 and a quick ratio of 1.23.

Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.12. Nike had a return on equity of 50.03% and a net margin of 11.21%. The company had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $10.09 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Nike’s revenue was up 10.2% compared to the same quarter last year. Research analysts predict that Nike Inc will post 3 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a $0.245 dividend. This represents a $0.98 annualized dividend and a yield of 0.95%. Nike’s dividend payout ratio (DPR) is currently 39.36%.

Nike Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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