Elo Mutual Pension Insurance Co Increases Stock Holdings in NIKE, Inc. (NYSE:NKE)

Elo Mutual Pension Insurance Co lifted its position in NIKE, Inc. (NYSE:NKE) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,864 shares of the footwear maker’s stock after buying an additional 3,743 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in NIKE were worth $11,602,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Excalibur Management Corp lifted its holdings in shares of NIKE by 1.9% in the third quarter. Excalibur Management Corp now owns 5,148 shares of the footwear maker’s stock worth $492,000 after buying an additional 98 shares in the last quarter. Tiemann Investment Advisors LLC lifted its holdings in shares of NIKE by 3.1% in the third quarter. Tiemann Investment Advisors LLC now owns 3,340 shares of the footwear maker’s stock worth $319,000 after buying an additional 100 shares in the last quarter. Piscataqua Savings Bank raised its stake in NIKE by 2.1% in the fourth quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock valued at $528,000 after purchasing an additional 100 shares in the last quarter. Physicians Financial Services Inc. raised its stake in NIKE by 0.6% in the fourth quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock valued at $1,745,000 after purchasing an additional 100 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. raised its stake in NIKE by 4.0% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock valued at $282,000 after purchasing an additional 100 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on NKE. Wells Fargo & Company lowered their target price on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd. StockNews.com downgraded shares of NIKE from a “buy” rating to a “hold” rating in a research note on Wednesday. Bank of America raised shares of NIKE from a “neutral” rating to a “buy” rating and raised their target price for the company from $110.00 to $113.00 in a research note on Thursday, April 11th. UBS Group reduced their price target on shares of NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Finally, Stifel Nicolaus reduced their price target on shares of NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus target price of $116.26.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now owns 730 shares of the company’s stock, valued at $68,357.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 213,660 shares of company stock worth $19,946,333. 0.50% of the stock is owned by corporate insiders.

NIKE Stock Up 0.9 %

NIKE stock traded up $0.83 on Friday, hitting $96.55. 9,397,364 shares of the stock traded hands, compared to its average volume of 9,098,210. The business’s fifty day simple moving average is $92.71 and its 200 day simple moving average is $100.99. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The firm has a market cap of $145.73 billion, a P/E ratio of 28.40, a price-to-earnings-growth ratio of 1.76 and a beta of 1.05. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, sell-side analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.37 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 1.53%. NIKE’s payout ratio is 43.53%.

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.