Redmond Asset Management LLC Invests $481,000 in NIKE, Inc. (NYSE:NKE)

Redmond Asset Management LLC acquired a new stake in NIKE, Inc. (NYSE:NKE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 6,355 shares of the footwear maker's stock, valued at approximately $481,000.

A number of other institutional investors have also recently made changes to their positions in NKE. Deseret Mutual Benefit Administrators raised its holdings in NIKE by 8.6% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 3,590 shares of the footwear maker's stock valued at $272,000 after buying an additional 283 shares during the last quarter. Kennon Green & Company LLC raised its stake in shares of NIKE by 0.8% during the fourth quarter. Kennon Green & Company LLC now owns 24,323 shares of the footwear maker's stock valued at $1,841,000 after acquiring an additional 196 shares during the last quarter. Peregrine Asset Advisers Inc. boosted its holdings in shares of NIKE by 2.4% during the fourth quarter. Peregrine Asset Advisers Inc. now owns 14,938 shares of the footwear maker's stock worth $1,130,000 after purchasing an additional 348 shares during the period. Blackston Financial Advisory Group LLC boosted its holdings in shares of NIKE by 11.7% during the fourth quarter. Blackston Financial Advisory Group LLC now owns 3,497 shares of the footwear maker's stock worth $265,000 after purchasing an additional 365 shares during the period. Finally, Transcend Capital Advisors LLC grew its stake in shares of NIKE by 57.1% in the fourth quarter. Transcend Capital Advisors LLC now owns 21,098 shares of the footwear maker's stock worth $1,596,000 after purchasing an additional 7,666 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

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Analyst Ratings Changes

A number of research firms have commented on NKE. TD Cowen lowered their price target on NIKE from $78.00 to $73.00 and set a "hold" rating for the company in a research report on Monday, November 18th. Stifel Nicolaus dropped their price target on NIKE from $79.00 to $75.00 and set a "hold" rating for the company in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft cut their price target on shares of NIKE from $92.00 to $82.00 and set a "buy" rating on the stock in a report on Monday, December 16th. Jefferies Financial Group raised shares of NIKE from a "hold" rating to a "buy" rating and raised their target price for the stock from $75.00 to $115.00 in a research report on Monday. Finally, Robert W. Baird reduced their price target on shares of NIKE from $110.00 to $105.00 and set an "outperform" rating on the stock in a research report on Monday, December 23rd. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, NIKE has an average rating of "Moderate Buy" and an average price target of $89.77.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now directly owns 34,403 shares of the company's stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the firm's stock in a transaction 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 completion of the transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

NIKE Stock Down 0.7 %

Shares of NKE stock traded down $0.55 during mid-day trading on Wednesday, hitting $81.17. The company's stock had a trading volume of 16,036,989 shares, compared to its average volume of 13,666,174. The stock has a market cap of $120.06 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 2.52 and a beta of 1.01. 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 $68.62 and a 52-week high of $105.57. The business has a 50-day moving average price of $74.45 and a 200 day moving average price of $78.26.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company's quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 EPS. Research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 1.97%. NIKE's dividend payout ratio (DPR) is 49.38%.

About NIKE

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.