Kennon Green & Company LLC Acquires 196 Shares of NIKE, Inc. (NYSE:NKE)

Kennon Green & Company LLC boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,323 shares of the footwear maker’s stock after acquiring an additional 196 shares during the period. NIKE comprises about 1.6% of Kennon Green & Company LLC’s portfolio, making the stock its 24th largest position. Kennon Green & Company LLC’s holdings in NIKE were worth $1,841,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE in the 3rd quarter valued at about $30,000. Caitlin John LLC boosted its holdings in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of NIKE in the 4th quarter valued at about $28,000. Roxbury Financial LLC bought a new stake in shares of NIKE in the 4th quarter valued at about $30,000. Finally, Dunhill Financial LLC boosted its holdings in shares of NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after buying an additional 169 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $84.00 price target on shares of NIKE in a report on Friday, February 7th. Royal Bank of Canada lowered their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Citigroup cut shares of NIKE from a “buy” rating to a “neutral” rating and lowered their price target for the company from $102.00 to $72.00 in a report on Friday, February 7th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $80.00 price objective on shares of NIKE in a research report on Wednesday. Finally, Evercore ISI decreased their price objective on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Fifteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong 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 $88.62.

NIKE Price Performance

Shares of NYSE NKE opened at $76.50 on Friday. The stock has a market capitalization of $113.15 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 2.50 and a beta of 1.01. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $106.62. The firm’s 50 day simple moving average is $74.31 and its 200-day simple moving average is $78.09. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the company earned $1.03 EPS. Analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. NIKE’s dividend payout ratio is currently 49.38%.

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.