Mountain Capital Investment Advisors Inc Cuts Stock Position in NIKE, Inc. (NYSE:NKE)

Mountain Capital Investment Advisors Inc lowered its stake in NIKE, Inc. (NYSE:NKE) by 22.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,865 shares of the footwear maker’s stock after selling 1,725 shares during the period. Mountain Capital Investment Advisors Inc’s holdings in NIKE were worth $862,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Jennison Associates LLC lifted its position in NIKE by 19.7% in the 3rd quarter. Jennison Associates LLC now owns 15,633,913 shares of the footwear maker’s stock valued at $1,962,681,000 after acquiring an additional 2,577,992 shares in the last quarter. Sands Capital Management LLC lifted its position in NIKE by 2.1% in the 3rd quarter. Sands Capital Management LLC now owns 6,869,189 shares of the footwear maker’s stock valued at $862,358,000 after acquiring an additional 139,857 shares in the last quarter. Fisher Asset Management LLC lifted its position in NIKE by 3.7% in the 3rd quarter. Fisher Asset Management LLC now owns 6,693,788 shares of the footwear maker’s stock valued at $840,338,000 after acquiring an additional 238,209 shares in the last quarter. Winslow Capital Management LLC lifted its position in NIKE by 11.0% in the 3rd quarter. Winslow Capital Management LLC now owns 5,149,281 shares of the footwear maker’s stock valued at $646,441,000 after acquiring an additional 508,255 shares in the last quarter. Finally, Jensen Investment Management Inc. lifted its position in NIKE by 0.3% in the 3rd quarter. Jensen Investment Management Inc. now owns 4,307,572 shares of the footwear maker’s stock valued at $540,773,000 after acquiring an additional 11,410 shares in the last quarter. 55.61% of the stock is currently owned by institutional investors and hedge funds.

Shares of NKE stock opened at $143.04 on Thursday. NIKE, Inc. has a 52-week low of $60.00 and a 52-week high of $147.95. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.77 and a current ratio of 2.55. The firm has a market capitalization of $224.55 billion, a PE ratio of 85.65, a PEG ratio of 2.76 and a beta of 0.84. The stock has a fifty day simple moving average of $139.88 and a two-hundred day simple moving average of $120.86.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 17th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 34.62% and a net margin of 7.20%. The business had revenue of $11.24 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the prior year, the business posted $0.70 EPS. NIKE’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, sell-side analysts forecast that NIKE, Inc. will post 2.85 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 29th. Stockholders of record on Monday, December 7th were given a dividend of $0.275 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.77%. NIKE’s dividend payout ratio (DPR) is presently 59.46%.

In other news, Chairman Mark G. Parker sold 130,000 shares of the firm’s stock in a transaction dated Wednesday, December 30th. The stock was sold at an average price of $141.27, for a total transaction of $18,365,100.00. Following the completion of the transaction, the chairman now owns 1,532,001 shares in the company, valued at $216,425,781.27. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Hilary K. Krane sold 5,670 shares of the firm’s stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $123.30, for a total value of $699,111.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 450,170 shares of company stock valued at $63,160,981. Company insiders own 3.80% of the company’s stock.

Several research firms recently issued reports on NKE. Rowe upped their price objective on NIKE from $150.00 to $160.00 and gave the company a “positive” rating in a research report on Wednesday, September 23rd. Stifel Nicolaus increased their price target on NIKE from $140.00 to $154.00 and gave the company a “buy” rating in a report on Wednesday, September 23rd. Morgan Stanley increased their price target on NIKE from $165.00 to $176.00 and gave the company an “overweight” rating in a report on Monday, December 21st. Credit Suisse Group set a $162.00 price target on NIKE and gave the company a “buy” rating in a report on Monday, January 4th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on NIKE from $137.00 to $157.00 in a report on Monday, December 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-eight have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $153.85.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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