Malaga Cove Capital LLC Increases Stock Holdings in NIKE, Inc. (NYSE:NKE)

Malaga Cove Capital LLC increased its position in NIKE, Inc. (NYSE:NKE) by 32.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,194 shares of the footwear maker’s stock after acquiring an additional 2,728 shares during the quarter. Malaga Cove Capital LLC’s holdings in NIKE were worth $847,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NKE. Capricorn Fund Managers Ltd bought a new position in NIKE in the 4th quarter valued at $5,384,000. Klein Pavlis & Peasley Financial Inc. boosted its stake in NIKE by 31.1% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after buying an additional 6,124 shares during the period. FNY Investment Advisers LLC boosted its stake in NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after buying an additional 8,504 shares during the period. Renaissance Technologies LLC increased its stake in NIKE by 1,302.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock worth $196,901,000 after acquiring an additional 2,416,601 shares during the last quarter. Finally, Mirador Capital Partners LP increased its stake in NIKE by 69.8% in the 4th quarter. Mirador Capital Partners LP now owns 72,986 shares of the footwear maker’s stock worth $5,523,000 after acquiring an additional 30,011 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Holmes Swan bought 8,600 shares of the stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now directly owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on NIKE from $64.00 to $56.00 and set a “neutral” rating for the company in a research report on Monday, May 5th. Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Williams Trading dropped their price objective on shares of NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a report on Monday, April 21st. Bank of America cut their target price on shares of NIKE from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, BMO Capital Markets reduced their target price on NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Seventeen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.11.

NIKE Trading Down 0.4%

NKE opened at $62.35 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The stock has a market cap of $92.22 billion, a PE ratio of 19.24, a PEG ratio of 2.52 and a beta of 1.23. The business has a 50 day moving average of $61.91 and a 200-day moving average of $71.02.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same quarter last year, the firm posted $0.98 earnings per share. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. Equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.57%. NIKE’s dividend payout ratio (DPR) is currently 53.16%.

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.