Eagle Rock Investment Company LLC Purchases 19,991 Shares of NIKE, Inc. (NYSE:NKE)

Eagle Rock Investment Company LLC lifted its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 49.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,642 shares of the footwear maker's stock after acquiring an additional 19,991 shares during the period. Eagle Rock Investment Company LLC's holdings in NIKE were worth $4,589,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Garrison Point Advisors LLC increased its stake in NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker's stock valued at $593,000 after acquiring an additional 126 shares during the period. Stephens Consulting LLC grew its holdings in shares of NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker's stock worth $68,000 after purchasing an additional 128 shares in the last quarter. PSI Advisors LLC grew its holdings in shares of NIKE by 26.3% during the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker's stock worth $55,000 after purchasing an additional 130 shares in the last quarter. Chapin Davis Inc. increased its position in shares of NIKE by 1.2% during the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker's stock valued at $1,010,000 after purchasing an additional 133 shares during the period. Finally, Meridian Financial Partners LLC raised its stake in shares of NIKE by 1.6% in the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker's stock valued at $742,000 after purchasing an additional 133 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the firm's stock in a transaction dated Friday, December 27th. The stock was bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now owns 34,403 shares of the company's stock, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NKE shares. Bank of America lowered 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. Telsey Advisory Group cut shares of NIKE from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $93.00 to $80.00 in a research note on Friday, December 20th. Barclays cut their price target 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. Guggenheim lowered their price objective on NIKE from $115.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus dropped their target price on NIKE from $79.00 to $75.00 and set a "hold" rating for the company in a report on Friday, December 20th. Fourteen 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 stock. Based on data from MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.96.

NIKE Trading Down 0.3 %

NYSE:NKE traded down $0.22 on Friday, hitting $70.89. 9,688,434 shares of the stock were exchanged, compared to its average volume of 12,916,068. 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 52 week low of $70.32 and a 52 week high of $107.43. The stock has a market capitalization of $104.85 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 2.26 and a beta of 1.02. The company's 50-day moving average price is $75.87 and its 200 day moving average price is $77.96.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. NIKE's revenue for the quarter was down 7.7% compared to the same quarter last year. On average, equities research analysts forecast that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. This is an increase from NIKE's previous quarterly dividend of $0.37. NIKE's dividend payout ratio is 49.38%.

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.