JLB & Associates Inc. Decreases Stock Holdings in NIKE, Inc. $NKE

JLB & Associates Inc. lowered its holdings in shares of NIKE, Inc. (NYSE:NKE) by 23.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,926 shares of the footwear maker’s stock after selling 10,013 shares during the quarter. JLB & Associates Inc.’s holdings in NIKE were worth $2,296,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mitchell Mcleod Pugh & Williams Inc. lifted its holdings in shares of NIKE by 1.0% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock valued at $1,007,000 after acquiring an additional 134 shares during the last quarter. Main Street Financial Solutions LLC raised its position in NIKE by 4.2% during the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after purchasing an additional 139 shares during the period. St. Clair Advisors LLC raised its position in NIKE by 0.9% during the third quarter. St. Clair Advisors LLC now owns 15,217 shares of the footwear maker’s stock valued at $1,061,000 after purchasing an additional 140 shares during the period. Salomon & Ludwin LLC lifted its stake in shares of NIKE by 10.1% in the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock valued at $120,000 after purchasing an additional 145 shares during the last quarter. Finally, HB Wealth Management LLC lifted its stake in shares of NIKE by 0.3% in the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock valued at $3,695,000 after purchasing an additional 147 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 8,691 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The shares were bought at an average cost of $57.54 per share, with a total value of $500,080.14. Following the completion of the acquisition, the director directly owned 43,293 shares in the company, valued at $2,491,079.22. This represents a 25.12% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp bought 16,150 shares of the stock in a transaction on Friday, November 7th. The shares were bought at an average price of $62.09 per share, with a total value of $1,002,753.50. Following the acquisition, the director owned 21,388 shares of the company’s stock, valued at $1,327,980.92. This trade represents a 308.32% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 91,229 shares of company stock valued at $5,452,640 over the last quarter. 0.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on NIKE from $100.00 to $86.00 and set a “buy” rating on the stock in a report on Monday, November 17th. Bank of America dropped their price objective on shares of NIKE from $84.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, December 19th. Robert W. Baird cut their price objective on shares of NIKE from $93.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, December 19th. Citigroup restated a “neutral” rating and issued a $65.00 target price (down previously from $70.00) on shares of NIKE in a report on Friday, December 19th. Finally, Berenberg Bank reaffirmed a “neutral” rating and set a $70.00 price target on shares of NIKE in a research note on Friday, December 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $74.65.

NIKE Price Performance

NKE opened at $65.48 on Friday. The company has a market capitalization of $96.94 billion, a price-to-earnings ratio of 38.52, a PEG ratio of 3.38 and a beta of 1.28. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The business’s fifty day simple moving average is $63.90 and its 200-day simple moving average is $69.14.

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

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were paid a dividend of $0.41 per share. This is a boost from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, December 1st. NIKE’s payout ratio is 96.47%.

NIKE Company 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).