Rockland Trust Co. Grows Holdings in NIKE, Inc. $NKE

Rockland Trust Co. lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 358,886 shares of the footwear maker’s stock after buying an additional 20,097 shares during the quarter. Rockland Trust Co.’s holdings in NIKE were worth $25,025,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Twin Peaks Wealth Advisors LLC bought a new stake in shares of NIKE in the 2nd quarter worth about $31,000. Guerra Advisors Inc acquired a new position in NIKE in the third quarter worth about $34,000. NewSquare Capital LLC grew its stake in NIKE by 54.4% in the second quarter. NewSquare Capital LLC now owns 732 shares of the footwear maker’s stock worth $52,000 after purchasing an additional 258 shares in the last quarter. Field & Main Bank increased its holdings in NIKE by 36.4% in the second quarter. Field & Main Bank now owns 750 shares of the footwear maker’s stock valued at $53,000 after buying an additional 200 shares during the last quarter. Finally, Financial Consulate Inc. acquired a new stake in NIKE during the third quarter valued at approximately $57,000. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 2.3%

NKE stock opened at $62.44 on Tuesday. The company has a quick ratio of 1.40, a current ratio of 2.06 and a debt-to-equity ratio of 0.50. The firm’s 50-day simple moving average is $63.79 and its 200 day simple moving average is $68.15. The stock has a market cap of $92.43 billion, a PE ratio of 36.73, a price-to-earnings-growth ratio of 3.27 and a beta of 1.27. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, topping the consensus estimate of $0.37 by $0.16. The firm had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.19 billion. NIKE had a net margin of 5.43% and a return on equity of 18.43%. NIKE’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 EPS. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, December 1st. This is an increase from NIKE’s previous quarterly dividend of $0.40. NIKE’s dividend payout ratio (DPR) is presently 96.47%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NKE shares. BTIG Research reiterated a “buy” rating and issued a $100.00 target price on shares of NIKE in a research report on Tuesday, January 27th. Wells Fargo & Company set a $65.00 price objective on shares of NIKE and gave the stock an “overweight” rating in a report on Friday, December 19th. Deutsche Bank Aktiengesellschaft set a $67.00 target price on shares of NIKE in a research note on Thursday, January 8th. Royal Bank Of Canada restated a “buy” rating on shares of NIKE in a research report on Wednesday, January 21st. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of NIKE in a report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.61.

Insiders Place Their Bets

In other NIKE news, Director Timothy D. Cook purchased 50,000 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was bought at an average price of $58.97 per share, with a total value of $2,948,500.00. Following the completion of the purchase, the director owned 105,480 shares in the company, valued at $6,220,155.60. This trade represents a 90.12% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $64.80, for a total value of $5,577,854.40. Following the transaction, the chairman directly owned 647,615 shares in the company, valued at $41,965,452. This trade represents a 11.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have purchased 75,079 shares of company stock worth $4,449,887. Insiders own 0.80% of the company’s stock.

NIKE Company 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).