Mountain Hill Investment Partners Corp. Purchases Shares of 1,107 NIKE, Inc. (NYSE:NKE)

Mountain Hill Investment Partners Corp. acquired a new position in shares of NIKE, Inc. (NYSE:NKE) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 1,107 shares of the footwear maker’s stock, valued at approximately $84,000.

Several other large investors have also modified their holdings of the stock. State Street Corp lifted its position in NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after acquiring an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP increased its position in shares of NIKE by 5.1% during the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after purchasing an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after purchasing an additional 251,411 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after purchasing an additional 3,121,929 shares during the period. Finally, Fisher Asset Management LLC grew its stake in NIKE by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after buying an additional 583,207 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the subject of a number of research reports. Needham & Company LLC reduced their price objective on NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Royal Bank of Canada reduced their price target on shares of NIKE from $67.00 to $66.00 and set a “sector perform” rating for the company in a research report on Friday. China Renaissance initiated coverage on shares of NIKE in a research note on Wednesday, March 19th. They set a “hold” rating for the company. Bank of America dropped their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Barclays decreased their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $87.38.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on 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 sale, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now directly 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 disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NKE opened at $68.02 on Monday. NIKE, Inc. has a 1-year low of $65.17 and a 1-year high of $98.04. The stock has a market cap of $100.60 billion, a P/E ratio of 20.99, a P/E/G ratio of 2.52 and a beta of 1.02. The stock’s 50 day simple moving average is $74.70 and its 200 day simple moving average is $77.40. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter last year, the business posted $0.98 earnings per share. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

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.