Mirador Capital Partners LP Has $9.93 Million Position in NIKE, Inc. $NKE
by Doug Wharley · The Cerbat GemMirador Capital Partners LP raised its position in NIKE, Inc. (NYSE:NKE – Free Report) by 72.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,368 shares of the footwear maker’s stock after purchasing an additional 59,998 shares during the quarter. NIKE makes up approximately 1.4% of Mirador Capital Partners LP’s holdings, making the stock its 19th biggest position. Mirador Capital Partners LP’s holdings in NIKE were worth $9,927,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in NKE. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in NIKE by 1.0% in the second 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 lifted its stake in shares of NIKE by 4.2% in the 2nd 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 last quarter. St. Clair Advisors LLC boosted its holdings in NIKE by 0.9% in the third quarter. St. Clair Advisors LLC now owns 15,217 shares of the footwear maker’s stock worth $1,061,000 after purchasing an additional 140 shares in the last quarter. Caldwell Sutter Capital Inc. increased its position in NIKE by 6.3% during the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock worth $170,000 after buying an additional 142 shares during the last quarter. Finally, Salomon & Ludwin LLC raised its holdings in NIKE by 10.1% during the second quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock valued at $120,000 after buying an additional 145 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.
Insider Buying and Selling
In related news, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This trade represents a 12.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 16,150 shares of NIKE stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the transaction, the director owned 21,388 shares in the company, valued at $1,327,980.92. This represents a 308.32% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.80% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on NKE. JPMorgan Chase & Co. lowered their price objective on NIKE from $100.00 to $86.00 and set a “buy” rating on the stock in a report on Monday, November 17th. TD Cowen raised shares of NIKE from a “hold” rating to a “buy” rating and upped their price objective for the stock from $62.00 to $85.00 in a report on Wednesday, September 10th. Citigroup downgraded shares of NIKE from a “positive” rating to a “mixed” rating in a report on Friday. Sanford C. Bernstein reaffirmed a “buy” rating and set a $90.00 target price on shares of NIKE in a research report on Monday, October 13th. Finally, Raymond James Financial reissued a “market perform” rating on shares of NIKE in a research report on Monday. Four analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and an average target price of $81.24.
Get Our Latest Research Report on NIKE
NIKE Stock Down 0.9%
Shares of NKE opened at $67.17 on Wednesday. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44. The stock has a market cap of $99.28 billion, a price-to-earnings ratio of 34.44, a P/E/G ratio of 2.39 and a beta of 1.29. The company has a 50-day moving average price of $65.30 and a two-hundred day moving average price of $69.47. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59.
NIKE (NYSE:NKE – Get Free Report) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.NIKE’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 EPS. Equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.
NIKE Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from NIKE’s previous quarterly dividend of $0.40. NIKE’s payout ratio is currently 84.10%.
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.
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