Main Street Research LLC Sells 187 Shares of NIKE, Inc. (NYSE:NKE)

Main Street Research LLC lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 6.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,940 shares of the footwear maker’s stock after selling 187 shares during the quarter. Main Street Research LLC’s holdings in NIKE were worth $320,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Buffington Mohr McNeal boosted its position in NIKE by 5.7% during the 4th quarter. Buffington Mohr McNeal now owns 11,707 shares of the footwear maker’s stock valued at $1,271,000 after acquiring an additional 629 shares in the last quarter. Marietta Wealth Management LLC boosted its position in shares of NIKE by 0.3% in the 4th quarter. Marietta Wealth Management LLC now owns 43,750 shares of the footwear maker’s stock worth $4,750,000 after purchasing an additional 139 shares in the last quarter. Suncoast Equity Management boosted its position in shares of NIKE by 0.5% in the 4th quarter. Suncoast Equity Management now owns 165,772 shares of the footwear maker’s stock worth $17,998,000 after purchasing an additional 752 shares in the last quarter. United Asset Strategies Inc. boosted its position in shares of NIKE by 8.3% in the 4th quarter. United Asset Strategies Inc. now owns 8,240 shares of the footwear maker’s stock worth $895,000 after purchasing an additional 629 shares in the last quarter. Finally, First American Trust FSB boosted its position in shares of NIKE by 42.0% in the 4th quarter. First American Trust FSB now owns 84,806 shares of the footwear maker’s stock worth $9,207,000 after purchasing an additional 25,085 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wedbush reissued an “outperform” rating and issued a $115.00 price objective on shares of NIKE in a research report on Wednesday, March 27th. Citigroup lowered their price target on NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, March 14th. Deutsche Bank Aktiengesellschaft lowered their price target on NIKE from $132.00 to $128.00 and set a “buy” rating for the company in a research report on Friday, December 22nd. BMO Capital Markets lifted their price target on NIKE from $110.00 to $118.00 and gave the stock an “outperform” rating in a research report on Friday, December 22nd. Finally, Morgan Stanley lowered their price target on NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $116.26.

NIKE Price Performance

Shares of NIKE stock traded up $0.78 on Tuesday, hitting $93.88. 6,803,960 shares of the company were exchanged, compared to its average volume of 9,522,918. The stock has a market capitalization of $141.70 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 1.79 and a beta of 1.09. The company has a 50-day moving average price of $98.83 and a 200 day moving average price of $103.49. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $128.68. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.29. The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, sell-side analysts predict that NIKE, Inc. will post 3.7 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio is presently 43.53%.

About NIKE

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.