Caprock Group LLC Takes $1.40 Million Position in NIKE, Inc. $NKE

Caprock Group LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKE) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 18,093 shares of the footwear maker’s stock, valued at approximately $1,400,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Twin Peaks Wealth Advisors LLC acquired a new position in shares of NIKE in the 2nd quarter valued at $31,000. Guerra Advisors Inc purchased a new stake in NIKE in the 3rd quarter valued at about $34,000. NewSquare Capital LLC lifted its position in NIKE by 54.4% in the second quarter. NewSquare Capital LLC now owns 732 shares of the footwear maker’s stock valued at $52,000 after buying an additional 258 shares during the last quarter. Field & Main Bank boosted its stake in NIKE by 36.4% during the second quarter. Field & Main Bank now owns 750 shares of the footwear maker’s stock worth $53,000 after buying an additional 200 shares during the period. Finally, Financial Consulate Inc. acquired a new stake in shares of NIKE during the third quarter valued at about $57,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Trading Up 3.2%

Shares of NYSE:NKE opened at $63.07 on Friday. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44. The company’s 50 day moving average is $63.54 and its two-hundred day moving average is $67.78. The company has a market cap of $93.37 billion, a PE ratio of 37.10, a P/E/G ratio of 3.23 and a beta of 1.27. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. The firm had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.19 billion. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

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

Analyst Ratings Changes

NKE has been the subject of several research reports. Barclays reiterated a “neutral” rating on shares of NIKE in a report on Thursday, January 15th. JPMorgan Chase & Co. dropped their price objective on NIKE from $100.00 to $86.00 and set a “buy” rating for the company in a research note on Monday, November 17th. Raymond James Financial reissued a “market perform” rating on shares of NIKE in a research note on Monday, December 15th. Needham & Company LLC cut NIKE from a “buy” rating to a “hold” rating in a report on Thursday, January 8th. Finally, Bank of America reduced their price target on shares of NIKE from $84.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $74.61.

Insider Activity

In other news, Director Robert Holmes Swan acquired 8,691 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were bought at an average cost of $57.54 per share, with a total value of $500,080.14. Following the purchase, the director owned 43,293 shares of the company’s stock, valued at $2,491,079.22. This represents a 25.12% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Elliott Hill bought 16,388 shares of NIKE stock in a transaction dated Monday, December 29th. The stock was purchased at an average price of $61.10 per share, with a total value of $1,001,306.80. Following the purchase, the chief executive officer directly owned 241,587 shares in the company, valued at approximately $14,760,965.70. This trade represents a 7.28% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 75,079 shares of company stock valued at $4,449,887. Company insiders own 0.80% of the company’s stock.

About NIKE

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).