RMR Wealth Builders Grows Position in NIKE, Inc. (NYSE:NKE)

RMR Wealth Builders boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 23.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,392 shares of the footwear maker’s stock after acquiring an additional 1,972 shares during the quarter. RMR Wealth Builders’ holdings in NIKE were worth $1,128,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of NKE. Newport Trust Company LLC acquired a new stake in shares of NIKE during the third quarter worth $679,775,000. Flossbach Von Storch AG lifted its stake in shares of NIKE by 433.5% in the 3rd quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock worth $394,775,000 after acquiring an additional 3,354,677 shares during the period. Van ECK Associates Corp boosted its holdings in shares of NIKE by 117.0% in the third quarter. Van ECK Associates Corp now owns 2,986,441 shares of the footwear maker’s stock valued at $285,564,000 after acquiring an additional 1,610,273 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of NIKE by 37.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock worth $553,786,000 after buying an additional 1,583,541 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in NIKE in the 3rd quarter valued at about $97,724,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on NKE shares. Jefferies Financial Group reduced their price target on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Telsey Advisory Group dropped their price target on NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. Morgan Stanley reduced their price objective on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 27th. Wedbush reiterated an “outperform” rating and set a $115.00 price objective on shares of NIKE in a research report on Tuesday, April 30th. Finally, Evercore ISI reduced their target price on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Two equities 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Stock Performance

NIKE stock opened at $93.44 on Thursday. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $126.46. The firm’s 50 day simple moving average is $95.28 and its 200-day simple moving average is $102.91. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The company has a market cap of $141.03 billion, a P/E ratio of 27.53, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07.

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

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.37 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.58%. NIKE’s payout ratio is 43.53%.

Insider Activity

In related news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

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.