Redmond Asset Management LLC Takes Position in NIKE, Inc. (NYSE:NKE)

Redmond Asset Management LLC bought a new position in shares of NIKE, Inc. (NYSE:NKE) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,355 shares of the footwear maker’s stock, valued at approximately $481,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators increased its holdings in NIKE by 8.6% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 3,590 shares of the footwear maker’s stock worth $272,000 after buying an additional 283 shares during the last quarter. Kennon Green & Company LLC increased its holdings in NIKE by 0.8% during the fourth quarter. Kennon Green & Company LLC now owns 24,323 shares of the footwear maker’s stock worth $1,841,000 after buying an additional 196 shares during the last quarter. Peregrine Asset Advisers Inc. increased its holdings in NIKE by 2.4% during the fourth quarter. Peregrine Asset Advisers Inc. now owns 14,938 shares of the footwear maker’s stock worth $1,130,000 after buying an additional 348 shares during the last quarter. Blackston Financial Advisory Group LLC increased its holdings in NIKE by 11.7% during the fourth quarter. Blackston Financial Advisory Group LLC now owns 3,497 shares of the footwear maker’s stock worth $265,000 after buying an additional 365 shares during the last quarter. Finally, Transcend Capital Advisors LLC increased its holdings in NIKE by 57.1% during the fourth quarter. Transcend Capital Advisors LLC now owns 21,098 shares of the footwear maker’s stock worth $1,596,000 after buying an additional 7,666 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

NIKE Stock Down 0.9 %

NKE stock opened at $76.50 on Friday. The company has a market cap of $113.15 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. The business has a 50-day simple moving average of $74.31 and a 200 day simple moving average of $78.13. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $106.62. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.09%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is 49.38%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America lowered their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Citigroup cut shares of NIKE from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $102.00 to $72.00 in a research report on Friday, February 7th. Finally, BMO Capital Markets lifted their price objective on shares of NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.62.

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.