Mainstream Capital Management LLC Trims Stock Position in NIKE, Inc. (NYSE:NKE)

Mainstream Capital Management LLC lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 25.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,343 shares of the footwear maker’s stock after selling 2,134 shares during the quarter. Mainstream Capital Management LLC’s holdings in NIKE were worth $480,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. State Street Corp raised its position in NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP raised its position in NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after purchasing an additional 1,343,093 shares during the last quarter. Geode Capital Management LLC raised its position in NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after purchasing an additional 251,411 shares during the last quarter. Bank of New York Mellon Corp raised its position in NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after purchasing an additional 3,121,929 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after purchasing an additional 583,207 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 169,732 shares of the business’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 value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NIKE stock opened at $78.29 on Tuesday. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $102.49. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a market cap of $115.80 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. The company’s 50-day moving average price is $74.67 and its two-hundred day moving average price is $78.29.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the previous year, the firm earned $1.03 EPS. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. NIKE’s payout ratio is currently 49.38%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Royal Bank of Canada reduced their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Telsey Advisory Group reissued a “market perform” rating and issued a $80.00 price objective on shares of NIKE in a research note on Wednesday, February 19th. BMO Capital Markets boosted their price objective on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and boosted their price objective for the company from $75.00 to $115.00 in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.77.

NIKE 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.