Everett Harris & Co. CA Raises Position in NIKE, Inc. (NYSE:NKE)

Everett Harris & Co. CA lifted its stake in NIKE, Inc. (NYSE:NKE) by 0.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,067,328 shares of the footwear maker’s stock after buying an additional 4,778 shares during the period. NIKE comprises about 1.0% of Everett Harris & Co. CA’s holdings, making the stock its 21st biggest position. Everett Harris & Co. CA’s holdings in NIKE were worth $80,765,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cetera Investment Advisers grew its holdings in NIKE by 6.8% during the 2nd quarter. Cetera Investment Advisers now owns 230,215 shares of the footwear maker’s stock valued at $17,351,000 after purchasing an additional 14,584 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of NIKE during the second quarter valued at approximately $11,390,000. Heritage Wealth Management Inc. purchased a new stake in shares of NIKE in the second quarter worth approximately $207,000. Newbridge Financial Services Group Inc. boosted its holdings in NIKE by 27.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,238 shares of the footwear maker’s stock valued at $93,000 after acquiring an additional 264 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in NIKE by 625.4% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 76,900 shares of the footwear maker’s stock valued at $5,796,000 after acquiring an additional 66,299 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The stock was bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Bank of America cut their price target 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. Stifel Nicolaus reduced their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Needham & Company LLC reiterated a “buy” rating and issued a $84.00 price target on shares of NIKE in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Finally, Telsey Advisory Group lowered NIKE from an “outperform” rating to a “market perform” rating and cut their price target for the company from $93.00 to $80.00 in a research note on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.96.

NIKE Stock Performance

Shares of NKE opened at $76.82 on Friday. 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, Inc. has a one year low of $70.32 and a one year high of $107.43. The stock has a market cap of $113.62 billion, a P/E ratio of 23.71, a P/E/G ratio of 2.44 and a beta of 1.02. The stock has a 50-day moving average of $75.61 and a two-hundred day moving average of $77.95.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the firm earned $1.03 EPS. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, research analysts predict that NIKE, Inc. will post 2.09 EPS for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is 49.38%.

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.