Thurston Springer Miller Herd & Titak Inc. Boosts Holdings in NIKE, Inc. (NYSE:NKE)

Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 35.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 17,648 shares of the footwear maker’s stock after purchasing an additional 4,614 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in NIKE were worth $1,335,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Park Avenue Securities LLC raised its holdings in NIKE by 38.1% in the 4th quarter. Park Avenue Securities LLC now owns 14,899 shares of the footwear maker’s stock worth $1,127,000 after acquiring an additional 4,107 shares during the last quarter. Kathmere Capital Management LLC increased its holdings in shares of NIKE by 8.6% in the 4th quarter. Kathmere Capital Management LLC now owns 4,422 shares of the footwear maker’s stock worth $335,000 after purchasing an additional 351 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of NIKE by 358.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after purchasing an additional 2,357,745 shares during the last quarter. Bright Rock Capital Management LLC lifted its holdings in shares of NIKE by 7.5% during the fourth quarter. Bright Rock Capital Management LLC now owns 100,000 shares of the footwear maker’s stock valued at $7,567,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Pines Wealth Management LLC purchased a new stake in shares of NIKE during the fourth quarter valued at $237,000. 64.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on NKE. Bank of America lowered their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Robert W. Baird lowered their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Telsey Advisory Group downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $93.00 to $80.00 in a research report on Friday, December 20th. Evercore ISI lowered their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, Stifel Nicolaus cut their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

NIKE Stock Performance

NYSE NKE opened at $71.09 on Wednesday. The business has a 50-day moving average price of $76.05 and a 200-day moving average price of $78.06. The firm has a market cap of $105.15 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. NIKE, Inc. has a twelve month low of $70.53 and a twelve month high of $107.43. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the company posted $1.03 EPS. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, equities research analysts predict that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

NIKE Profile

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.