Nike Inc (NYSE:NKE) Holdings Raised by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lifted its stake in shares of Nike Inc (NYSE:NKE) by 231.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,890 shares of the footwear maker’s stock after purchasing an additional 25,074 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Nike were worth $2,970,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NKE. MainStreet Investment Advisors LLC grew its holdings in Nike by 247.4% during the first quarter. MainStreet Investment Advisors LLC now owns 13,959 shares of the footwear maker’s stock worth $1,155,000 after acquiring an additional 9,941 shares during the period. Banco Santander S.A. grew its holdings in Nike by 148.1% during the first quarter. Banco Santander S.A. now owns 133,189 shares of the footwear maker’s stock worth $11,020,000 after acquiring an additional 79,503 shares during the period. Fiduciary Group LLC grew its holdings in Nike by 3.0% during the first quarter. Fiduciary Group LLC now owns 20,340 shares of the footwear maker’s stock worth $1,683,000 after acquiring an additional 600 shares during the period. Heritage Trust Co grew its holdings in Nike by 2.7% during the first quarter. Heritage Trust Co now owns 4,411 shares of the footwear maker’s stock worth $365,000 after acquiring an additional 117 shares during the period. Finally, Argent Trust Co grew its holdings in Nike by 3.5% during the first quarter. Argent Trust Co now owns 35,628 shares of the footwear maker’s stock worth $2,948,000 after acquiring an additional 1,191 shares during the period. Institutional investors and hedge funds own 65.08% of the company’s stock.

A number of research firms recently issued reports on NKE. Pivotal Research lowered their target price on Nike from $117.00 to $78.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. UBS Group lowered their target price on Nike from $123.00 to $114.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. BTIG Research started coverage on Nike in a report on Tuesday, April 28th. They set a “buy” rating and a $108.00 target price on the stock. Jefferies Financial Group reissued a “hold” rating and issued a $83.00 price target on shares of Nike in a research note on Friday, May 1st. Finally, Wells Fargo & Co raised Nike from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $87.00 to $99.00 in a research note on Monday, March 30th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-eight have assigned a buy rating to the company. Nike currently has an average rating of “Buy” and a consensus target price of $98.18.

In related news, Director John W. Rogers, Jr. purchased 1,000 shares of the firm’s stock in a transaction on Friday, April 3rd. The shares were acquired at an average price of $84.63 per share, for a total transaction of $84,630.00. Following the purchase, the director now directly owns 12,851 shares in the company, valued at $1,087,580.13. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John W. Rogers, Jr. bought 2,500 shares of Nike stock in a transaction dated Thursday, March 26th. The stock was acquired at an average price of $84.22 per share, for a total transaction of $210,550.00. Following the completion of the acquisition, the director now owns 11,851 shares in the company, valued at $998,091.22. The disclosure for this purchase can be found here. Company insiders own 3.80% of the company’s stock.

NKE stock traded down $0.51 during midday trading on Friday, reaching $93.75. 4,040,519 shares of the stock were exchanged, compared to its average volume of 6,715,255. The stock has a market capitalization of $146.58 billion, a PE ratio of 34.59, a P/E/G ratio of 2.92 and a beta of 0.75. Nike Inc has a 52 week low of $60.00 and a 52 week high of $105.62. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.90 and a quick ratio of 1.20. The company has a fifty day moving average price of $87.02 and a 200 day moving average price of $92.42.

Nike (NYSE:NKE) last issued its earnings results on Tuesday, March 24th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.19. The business had revenue of $10.10 billion during the quarter, compared to analyst estimates of $9.56 billion. Nike had a return on equity of 51.49% and a net margin of 10.46%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 EPS. As a group, analysts anticipate that Nike Inc will post 2.64 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a dividend of $0.245 per share. The ex-dividend date is Friday, May 29th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.05%. Nike’s dividend payout ratio (DPR) is currently 39.36%.

About Nike

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.

Further Reading: Total Return

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nike Inc (NYSE:NKE).

Institutional Ownership by Quarter for Nike (NYSE:NKE)

Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.