Everence Capital Management Inc. Takes $4.19 Million Position in NIKE, Inc. (NYSE:NKE)


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Everence Capital Management Inc. bought a new position in NIKE, Inc. (NYSE:NKE) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 31,557 shares of the footwear maker’s stock, valued at approximately $4,194,000.

Other large investors have also modified their holdings of the company. Key Financial Inc purchased a new position in NIKE in the 4th quarter worth $25,000. Tsfg LLC raised its position in NIKE by 583.3% in the 4th quarter. Tsfg LLC now owns 205 shares of the footwear maker’s stock worth $29,000 after purchasing an additional 175 shares during the period. Addison Advisors LLC purchased a new position in NIKE in the 4th quarter worth $30,000. DB Wealth Management Group LLC purchased a new position in NIKE in the 4th quarter worth $30,000. Finally, Joseph P. Lucia & Associates LLC purchased a new position in NIKE in the 4th quarter worth $32,000. Institutional investors own 64.20% of the company’s stock.

NKE has been the topic of a number of analyst reports. Needham & Company LLC boosted their price objective on shares of NIKE from $149.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, December 21st. DZ Bank restated a “sell” rating on shares of NIKE in a research report on Monday, January 4th. Morgan Stanley decreased their price objective on shares of NIKE from $176.00 to $173.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 17th. JPMorgan Chase & Co. boosted their price objective on shares of NIKE from $170.00 to $176.00 and gave the company an “overweight” rating in a research report on Thursday, March 25th. Finally, The Goldman Sachs Group set a $164.00 price objective on shares of NIKE and gave the company a “buy” rating in a research report on Monday, January 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirty-one have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $159.89.

NIKE stock traded down $1.25 during trading hours on Thursday, hitting $135.29. The stock had a trading volume of 234,178 shares, compared to its average volume of 6,261,050. The company has a quick ratio of 1.97, a current ratio of 2.66 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $213.28 billion, a P/E ratio of 78.02, a price-to-earnings-growth ratio of 2.51 and a beta of 0.83. NIKE, Inc. has a 12-month low of $83.61 and a 12-month high of $147.95. The stock’s 50-day moving average price is $136.90 and its 200-day moving average price is $135.02.

NIKE (NYSE:NKE) last released its quarterly earnings data on Wednesday, March 17th. The footwear maker reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.15. The firm had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.98 billion. NIKE had a net margin of 7.39% and a return on equity of 34.89%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 earnings per share. On average, research analysts expect that NIKE, Inc. will post 2.96 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Stockholders of record on Monday, March 1st were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Friday, February 26th. This represents a $1.10 annualized dividend and a dividend yield of 0.81%. NIKE’s payout ratio is 59.46%.

In other news, Chairman Mark G. Parker sold 114,094 shares of the stock in a transaction on Friday, March 26th. The stock was sold at an average price of $130.67, for a total transaction of $14,908,662.98. Following the transaction, the chairman now directly owns 1,537,729 shares of the company’s stock, valued at approximately $200,935,048.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.80% of the stock is owned by corporate insiders.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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