Stone Ridge Asset Management LLC Grows Stake in Nike Inc (NKE)

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Stone Ridge Asset Management LLC increased its stake in Nike Inc (NYSE:NKE) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,698 shares of the footwear maker’s stock after buying an additional 1,900 shares during the period. Stone Ridge Asset Management LLC’s holdings in Nike were worth $7,769,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NKE. Wellington Shields Capital Management LLC acquired a new position in shares of Nike in the third quarter valued at $297,000. Gryphon Financial Partners LLC grew its holdings in shares of Nike by 1,069.4% during the third quarter. Gryphon Financial Partners LLC now owns 5,777 shares of the footwear maker’s stock worth $490,000 after purchasing an additional 5,283 shares during the last quarter. AKO Capital LLP boosted its holdings in Nike by 19.6% in the third quarter. AKO Capital LLP now owns 1,081,864 shares of the footwear maker’s stock valued at $91,656,000 after acquiring an additional 177,452 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in Nike in the third quarter valued at about $526,000. Finally, Gerber Kawasaki Wealth & Investment Management boosted its holdings in Nike by 280.5% in the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 11,698 shares of the footwear maker’s stock valued at $988,000 after acquiring an additional 8,624 shares during the last quarter. 64.09% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Monique S. Matheson sold 17,000 shares of the firm’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $85.00, for a total value of $1,445,000.00. Following the completion of the transaction, the executive vice president now directly owns 104,737 shares of the company’s stock, valued at $8,902,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $85.05, for a total value of $1,360,800.00. Following the completion of the transaction, the director now directly owns 26,963 shares of the company’s stock, valued at $2,293,203.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,000 shares of company stock valued at $4,219,350. 3.90% of the stock is owned by corporate insiders.

Shares of NKE traded down $0.25 on Thursday, reaching $75.54. 9,432,200 shares of the company’s stock traded hands, compared to its average volume of 7,276,698. The company has a current ratio of 2.31, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $120.36 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 2.37 and a beta of 0.76. Nike Inc has a 52-week low of $59.65 and a 52-week high of $86.04.

Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 25th. The footwear maker reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. Nike had a return on equity of 40.69% and a net margin of 5.57%. The company had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.92 billion. During the same period last year, the business posted $0.57 earnings per share. Nike’s revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts predict that Nike Inc will post 2.63 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.16%. This is a positive change from Nike’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 30th. Nike’s dividend payout ratio is 36.36%.

A number of research firms have recently commented on NKE. HSBC reaffirmed a “neutral” rating and set a $92.00 price target on shares of Nike in a research report on Wednesday, October 3rd. Morgan Stanley set a $88.00 target price on Nike and gave the company a “buy” rating in a research report on Wednesday, September 19th. Daiwa Capital Markets set a $85.00 price target on Nike and gave the company a “hold” rating in a research note on Monday, October 1st. Robert W. Baird reiterated a “buy” rating and set a $94.00 target price on shares of Nike in a research note on Monday, November 19th. Finally, Bank of America boosted their price target on Nike from $50.00 to $55.00 and gave the company an “underperform” rating in a research note on Wednesday, September 26th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $85.85.

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Nike Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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