Malaga Cove Capital LLC Has $847,000 Stock Position in NIKE, Inc. (NYSE:NKE)

Malaga Cove Capital LLC grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 32.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 11,194 shares of the footwear maker’s stock after acquiring an additional 2,728 shares during the period. Malaga Cove Capital LLC’s holdings in NIKE were worth $847,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NKE. Capricorn Fund Managers Ltd acquired a new position in NIKE during the 4th quarter worth about $5,384,000. Klein Pavlis & Peasley Financial Inc. lifted its stake in shares of NIKE by 31.1% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after acquiring an additional 6,124 shares during the period. FNY Investment Advisers LLC lifted its stake in shares of NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after acquiring an additional 8,504 shares during the period. Renaissance Technologies LLC boosted its holdings in NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock valued at $196,901,000 after acquiring an additional 2,416,601 shares during the last quarter. Finally, Mirador Capital Partners LP increased its position in NIKE by 69.8% during the 4th quarter. Mirador Capital Partners LP now owns 72,986 shares of the footwear maker’s stock valued at $5,523,000 after purchasing an additional 30,011 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price target on shares of NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. UBS Group lowered their target price on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Cfra Research raised shares of NIKE to a “moderate buy” rating in a research report on Friday, March 21st. Telsey Advisory Group lowered their price objective on NIKE from $80.00 to $70.00 and set a “market perform” rating for the company in a research report on Tuesday, May 6th. Finally, Berenberg Bank initiated coverage on NIKE in a research note on Tuesday, April 15th. They issued a “hold” rating and a $58.00 price objective on the stock. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $80.11.

NIKE Stock Down 0.4%

NKE stock opened at $62.35 on Wednesday. The stock’s 50 day moving average is $61.91 and its 200-day moving average is $71.02. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04. The firm has a market capitalization of $92.22 billion, a PE ratio of 19.24, a P/E/G ratio of 2.52 and a beta of 1.23. 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 issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same period last year, the business earned $0.98 EPS. The business’s revenue was down 9.1% on a year-over-year basis. Sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.57%. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Insider Activity

In other news, Director Robert Holmes Swan purchased 8,600 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

About NIKE

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.