Rossmore Private Capital Purchases 13,741 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• Rossmore Private Capital increased its stake in NIKE, Inc. by 32.3%, now holding a total of 56,241 shares valued at approximately $3.57 million.
• NIKE's most recent quarterly earnings exceeded expectations with earnings per share of $0.14 and revenue of $11.10 billion, although revenue was down 11.9% year-over-year.
• The company announced a quarterly dividend of $0.40 per share, representing a dividend yield of 2.2% and a payout ratio of 74.07%.

Rossmore Private Capital boosted its position in NIKE, Inc. (NYSE:NKE - Free Report) by 32.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,241 shares of the footwear maker's stock after acquiring an additional 13,741 shares during the period. Rossmore Private Capital's holdings in NIKE were worth $3,570,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new stake in NIKE in the 1st quarter worth $25,000. Heck Capital Advisors LLC purchased a new stake in shares of NIKE in the 4th quarter worth about $28,000. Roxbury Financial LLC lifted its position in shares of NIKE by 52.1% in the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after purchasing an additional 201 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in shares of NIKE in the 1st quarter worth about $37,000. Finally, Putney Financial Group LLC purchased a new stake in shares of NIKE in the 4th quarter worth about $40,000. Institutional investors own 64.25% of the company's stock.

NIKE Stock Performance

Shares of NKE stock opened at $74.07 on Tuesday. The company has a 50 day moving average price of $69.95 and a 200-day moving average price of $67.55. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62. The firm has a market capitalization of $109.39 billion, a PE ratio of 34.29, a P/E/G ratio of 2.70 and a beta of 1.27. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same period in the previous year, the business posted $0.99 earnings per share. The business's revenue for the quarter was down 11.9% on a year-over-year basis. As a group, equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. NIKE's payout ratio is 74.07%.

Analyst Ratings Changes

Several research firms have recently commented on NKE. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $70.00 target price on shares of NIKE in a research report on Friday, June 27th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research report on Friday, June 20th. Argus raised shares of NIKE to a "buy" rating in a research report on Sunday, July 6th. Wells Fargo & Company raised their target price on shares of NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of NIKE in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $78.22.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.80% of the company's stock.

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.

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