Stonehaven Wealth & Tax Solutions LLC Makes New Investment in NIKE, Inc. (NYSE:NKE)

Stonehaven Wealth & Tax Solutions LLC bought a new position in shares of NIKE, Inc. (NYSE:NKE) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,479 shares of the footwear maker’s stock, valued at approximately $339,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NKE. Norges Bank acquired a new position in shares of NIKE in the fourth quarter valued at approximately $1,126,288,000. Wellington Management Group LLP increased its position in NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after buying an additional 8,898,591 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of NIKE by 6,029.6% during the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after buying an additional 6,709,985 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of NIKE by 18.1% in the fourth 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 acquiring an additional 3,121,929 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Down 1.0 %

Shares of NKE opened at $54.84 on Wednesday. The company’s 50-day moving average price is $69.31 and its 200 day moving average price is $74.45. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $98.04. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm has a market cap of $81.11 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period last year, the business posted $0.98 earnings per share. On average, sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.92%. NIKE’s dividend payout ratio is presently 53.16%.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on 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 transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares in the company, valued at $1,869,726.18. The trade was a 36.78 % 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.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. BMO Capital Markets decreased their target price on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. DA Davidson raised NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Morgan Stanley dropped their price objective on NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, March 21st. Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $102.00 to $72.00 in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of NIKE from $73.00 to $64.00 and set a “neutral” rating for the company in a research report on Friday, March 21st. Sixteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.15.

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.