DMC Group LLC Makes New $231,000 Investment in NIKE, Inc. (NYSE:NKE)

DMC Group LLC purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) during the fourth quarter, Holdings Channel reports. The fund purchased 3,058 shares of the footwear maker’s stock, valued at approximately $231,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Garrison Point Advisors LLC increased its stake in shares of NIKE by 1.9% in the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after acquiring an additional 126 shares during the last quarter. Stephens Consulting LLC grew its holdings in NIKE by 20.0% during the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after purchasing an additional 128 shares during the period. PSI Advisors LLC increased its stake in NIKE by 26.3% in the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after purchasing an additional 130 shares in the last quarter. Chapin Davis Inc. raised its holdings in NIKE by 1.2% in the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after purchasing an additional 133 shares during the period. Finally, Meridian Financial Partners LLC boosted its position in shares of NIKE by 1.6% during the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after purchasing an additional 133 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 3.0 %

NKE stock opened at $76.65 on Thursday. The business’s 50 day simple moving average is $75.48 and its 200 day simple moving average is $77.96. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. The firm has a market capitalization of $113.38 billion, a PE ratio of 23.66, a PEG ratio of 2.36 and a beta of 1.02. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 earnings per share. As a group, research analysts anticipate that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. NIKE’s dividend payout ratio is presently 49.38%.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NKE has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Guggenheim decreased their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Needham & Company LLC restated a “buy” rating and set a $84.00 target price on shares of NIKE in a report on Friday, December 20th. Barclays reduced their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a research report on Thursday, December 26th. Fourteen equities research 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.96.

NIKE Company 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.