Stoneridge Investment Partners LLC Has $5.02 Million Holdings in NIKE, Inc. $NKE

Stoneridge Investment Partners LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1,253.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 78,846 shares of the footwear maker’s stock after purchasing an additional 73,021 shares during the quarter. NIKE makes up 3.5% of Stoneridge Investment Partners LLC’s holdings, making the stock its 6th largest holding. Stoneridge Investment Partners LLC’s holdings in NIKE were worth $5,023,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of NKE. Guerra Advisors Inc bought a new stake in NIKE during the 3rd quarter worth approximately $34,000. Gordian Capital Singapore Pte Ltd bought a new stake in NIKE during the 3rd quarter worth approximately $35,000. Accredited Wealth Management LLC increased its stake in NIKE by 268.6% during the 3rd quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock worth $36,000 after purchasing an additional 376 shares in the last quarter. Matrix Trust Co increased its stake in NIKE by 43.6% during the 4th quarter. Matrix Trust Co now owns 596 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 181 shares in the last quarter. Finally, Ares Financial Consulting LLC bought a new stake in NIKE during the 4th quarter worth approximately $40,000. 64.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NKE shares. Evercore lowered their target price on NIKE from $69.00 to $57.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Berenberg Bank reissued a “neutral” rating on shares of NIKE in a research note on Wednesday, May 6th. China Renaissance lowered their target price on NIKE from $74.60 to $50.30 and set a “hold” rating for the company in a research note on Thursday, April 2nd. Wells Fargo & Company set a $45.00 target price on NIKE and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Finally, Sanford C. Bernstein reissued a “buy” rating on shares of NIKE in a research note on Monday, May 11th. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, NIKE currently has an average rating of “Hold” and a consensus target price of $62.04.

NIKE Trading Down 0.3%

NYSE:NKE opened at $41.88 on Friday. NIKE, Inc. has a twelve month low of $41.70 and a twelve month high of $80.17. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. The business has a 50 day moving average price of $47.89 and a two-hundred day moving average price of $58.11. The company has a market cap of $62.03 billion, a P/E ratio of 27.74, a price-to-earnings-growth ratio of 2.22 and a beta of 1.12.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The firm had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the prior year, the firm posted $0.54 EPS. The business’s revenue was up .1% on a year-over-year basis. As a group, analysts expect that NIKE, Inc. will post 1.51 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio is presently 108.61%.

Insider Buying and Selling

In related news, Director Timothy D. Cook acquired 25,000 shares of the business’s stock in a transaction dated Friday, April 10th. The stock was bought at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the acquisition, the director owned 130,480 shares in the company, valued at $5,536,266.40. This represents a 23.70% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Elliott Hill acquired 23,660 shares of the business’s stock in a transaction dated Monday, April 13th. The stock was bought at an average cost of $42.27 per share, with a total value of $1,000,108.20. Following the acquisition, the chief executive officer owned 265,247 shares in the company, valued at $11,211,990.69. The trade was a 9.79% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is owned by corporate insiders.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).