Mairs & Power Inc. Has $3.54 Million Position in NIKE, Inc. $NKE

Mairs & Power Inc. lifted its holdings in NIKE, Inc. (NYSE:NKE) by 1,058.4% during the third quarter, HoldingsChannel reports. The firm owned 50,762 shares of the footwear maker’s stock after purchasing an additional 46,380 shares during the period. Mairs & Power Inc.’s holdings in NIKE were worth $3,540,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Twin Peaks Wealth Advisors LLC bought a new stake in shares of NIKE in the second quarter valued at approximately $31,000. Guerra Advisors Inc bought a new position in NIKE during the third quarter worth $34,000. Gordian Capital Singapore Pte Ltd acquired a new position in NIKE during the 3rd quarter valued at $35,000. Accredited Wealth Management LLC raised 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 valued at $36,000 after purchasing an additional 376 shares during the last quarter. Finally, Abich Financial Wealth Management LLC bought a new stake in NIKE in the 3rd quarter valued at $43,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity at NIKE

In related news, Director Timothy D. Cook purchased 50,000 shares of the stock in a transaction on Monday, December 22nd. The shares were purchased at an average cost of $58.97 per share, for a total transaction of $2,948,500.00. Following the completion of the transaction, the director directly owned 105,480 shares of the company’s stock, valued at approximately $6,220,155.60. The trade was a 90.12% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Holmes Swan acquired 8,691 shares of the business’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 completion of the acquisition, the director owned 43,293 shares of the company’s stock, valued at approximately $2,491,079.22. This trade represents a 25.12% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 75,079 shares of company stock valued at $4,449,887 in the last 90 days. 0.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NKE has been the topic of several research analyst reports. The Goldman Sachs Group decreased their price target on shares of NIKE from $77.00 to $76.00 and set a “buy” rating on the stock in a research report on Thursday, January 29th. Guggenheim reaffirmed a “buy” rating on shares of NIKE in a research report on Wednesday, December 31st. Sanford C. Bernstein reissued a “buy” rating on shares of NIKE in a research report on Thursday, March 5th. Weiss Ratings upgraded NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 12th. Finally, Stifel Nicolaus set a $65.00 price target on NIKE and gave the company a “hold” rating in a report on Friday, December 19th. Twenty-three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $74.90.

NIKE Price Performance

NYSE:NKE opened at $54.76 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.40 and a current ratio of 2.06. The company has a 50-day moving average of $62.34 and a 200-day moving average of $65.36. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $80.17. The company has a market capitalization of $81.07 billion, a price-to-earnings ratio of 32.21, a PEG ratio of 2.76 and a beta of 1.27.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The business had revenue of $12.43 billion for 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%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 earnings per share. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.64 annualized dividend and a yield of 3.0%. NIKE’s payout ratio is currently 96.47%.

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).