Twin Capital Management Inc. Acquires New Position in NIKE, Inc. $NKE

Twin Capital Management Inc. bought a new position in NIKE, Inc. (NYSE:NKE) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 8,665 shares of the footwear maker’s stock, valued at approximately $604,000.

Several other institutional investors and hedge funds have also made changes to their positions in NKE. Twin Peaks Wealth Advisors LLC acquired a new position in NIKE during the second quarter worth $31,000. Guerra Advisors Inc purchased a new position in shares of NIKE during the 3rd quarter worth $34,000. NewSquare Capital LLC boosted its position in shares of NIKE by 54.4% during the 2nd quarter. NewSquare Capital LLC now owns 732 shares of the footwear maker’s stock valued at $52,000 after acquiring an additional 258 shares during the last quarter. Field & Main Bank boosted its position in shares of NIKE by 36.4% during the 2nd quarter. Field & Main Bank now owns 750 shares of the footwear maker’s stock valued at $53,000 after acquiring an additional 200 shares during the last quarter. Finally, Financial Consulate Inc. purchased a new stake in shares of NIKE in the third quarter valued at about $57,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Trading Up 1.9%

Shares of NYSE NKE opened at $63.91 on Friday. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $94.61 billion, a PE ratio of 37.59, a PEG ratio of 3.27 and a beta of 1.27. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44. The stock has a fifty day simple moving average of $63.85 and a 200-day simple moving average of $68.30.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.16. The firm had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.19 billion. NIKE had a return on equity of 18.43% and a net margin of 5.43%.NIKE’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. On average, equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, December 1st. NIKE’s dividend payout ratio (DPR) is presently 96.47%.

Analysts Set New Price Targets

A number of brokerages have commented on NKE. Needham & Company LLC downgraded shares of NIKE from a “buy” rating to a “hold” rating in a research note on Thursday, January 8th. KeyCorp reduced their price target on shares of NIKE from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. Telsey Advisory Group lowered their price objective on NIKE from $75.00 to $72.00 and set a “market perform” rating for the company in a research report on Friday, December 19th. Oppenheimer reissued an “outperform” rating on shares of NIKE in a research note on Wednesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft set a $67.00 price target on NIKE in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.61.

Insider Buying and Selling at NIKE

In related news, Director Timothy D. Cook acquired 50,000 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were acquired at an average price of $58.97 per share, with a total value of $2,948,500.00. Following the completion of the transaction, the director owned 105,480 shares of the company’s stock, valued at $6,220,155.60. The trade was a 90.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Elliott Hill acquired 16,388 shares of NIKE stock in a transaction dated Monday, December 29th. The stock was bought at an average price of $61.10 per share, for a total transaction of $1,001,306.80. Following the completion of the purchase, the chief executive officer owned 241,587 shares of the company’s stock, valued at approximately $14,760,965.70. This represents a 7.28% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 75,079 shares of company stock valued at $4,449,887 in the last 90 days. Corporate insiders own 0.80% of the company’s stock.

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).