NIKE, Inc. (NYSE:NKE) Shares Acquired by Rodgers Brothers Inc.

Rodgers Brothers Inc. lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 25.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,699 shares of the footwear maker’s stock after purchasing an additional 759 shares during the period. Rodgers Brothers Inc.’s holdings in NIKE were worth $348,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NKE. Iron Horse Wealth Management LLC boosted its stake in NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares during the period. Annapolis Financial Services LLC boosted its position in shares of NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares during the period. Planned Solutions Inc. purchased a new position in shares of NIKE during the fourth quarter valued at $29,000. True Wealth Design LLC raised its position in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares during the period. Finally, Core Wealth Advisors Inc. lifted its stake in NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 241 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NKE. Morgan Stanley reiterated an “equal weight” rating and issued a $79.00 target price (down previously from $114.00) on shares of NIKE in a report on Friday, June 28th. Raymond James reiterated a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $115.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. UBS Group restated a “neutral” rating and set a $78.00 price target on shares of NIKE in a report on Friday, June 28th. Finally, The Goldman Sachs Group reduced their price objective on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $96.30.

NIKE Price Performance

Shares of NYSE NKE traded up $1.16 during trading on Friday, reaching $72.57. The company had a trading volume of 8,882,377 shares, compared to its average volume of 11,467,425. NIKE, Inc. has a 52 week low of $70.91 and a 52 week high of $123.39. The business’s 50 day moving average price is $85.90 and its 200-day moving average price is $93.96. The stock has a market cap of $109.53 billion, a PE ratio of 19.36, a PEG ratio of 1.85 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.16. The firm had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 EPS. Analysts expect that NIKE, Inc. will post 3.12 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Insiders have sold a total of 323,660 shares of company stock worth $27,973,033 over the last 90 days. Insiders own 0.50% of the company’s stock.

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.