Mayflower Financial Advisors LLC Raises Stock Position in NIKE, Inc. (NYSE:NKE)

Mayflower Financial Advisors LLC raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 20.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,642 shares of the footwear maker’s stock after acquiring an additional 2,006 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in NIKE were worth $881,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Teachers Insurance & Annuity Association of America purchased a new position in NIKE in the 3rd quarter worth approximately $30,000. VitalStone Financial LLC raised its position in shares of NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the last quarter. Dunhill Financial LLC lifted its holdings in shares of NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after buying an additional 169 shares in the last quarter. Riverview Trust Co bought a new position in shares of NIKE during the third quarter worth $52,000. Finally, Catalyst Capital Advisors LLC purchased a new position in NIKE during the third quarter valued at $54,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Down 1.6 %

Shares of NYSE NKE opened at $74.38 on Wednesday. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43. The firm has a market capitalization of $110.02 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 2.36 and a beta of 1.02. The stock has a 50 day moving average price of $75.47 and a 200 day moving average price of $77.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 EPS. Sell-side analysts expect that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.15%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio is presently 49.38%.

Wall Street Analyst Weigh In

NKE has been the topic of several research analyst reports. Robert W. Baird decreased their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Wells Fargo & Company decreased their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. TD Cowen cut their price target on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Stifel Nicolaus decreased their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Finally, Morgan Stanley cut their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.96.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

NIKE Company 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.