KCM Investment Advisors LLC Has $9.74 Million Position in NIKE, Inc. (NYSE:NKE)

KCM Investment Advisors LLC decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 5.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 128,649 shares of the footwear maker’s stock after selling 7,011 shares during the period. KCM Investment Advisors LLC’s holdings in NIKE were worth $9,735,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. bought a new position in shares of NIKE in the 4th quarter valued at $30,037,000. Riverwater Partners LLC acquired a new stake in NIKE in the fourth quarter valued at about $351,000. Pioneer Trust Bank N A OR grew its position in NIKE by 0.6% in the fourth quarter. Pioneer Trust Bank N A OR now owns 70,568 shares of the footwear maker’s stock valued at $5,340,000 after acquiring an additional 400 shares during the last quarter. Prudential PLC raised its stake in NIKE by 152.9% during the fourth quarter. Prudential PLC now owns 67,444 shares of the footwear maker’s stock worth $5,103,000 after acquiring an additional 40,774 shares in the last quarter. Finally, Landscape Capital Management L.L.C. bought a new position in shares of NIKE in the fourth quarter worth about $1,903,000. 64.25% of the stock is owned by institutional investors.

NIKE Trading Up 2.9 %

NYSE:NKE opened at $57.17 on Friday. The firm has a fifty day simple moving average of $72.96 and a two-hundred day simple moving average of $76.33. NIKE, Inc. has a 12 month low of $52.50 and a 12 month high of $98.04. The stock has a market capitalization of $84.57 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 2.52 and a beta of 1.02. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period last year, the business posted $0.98 EPS. Analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s payout ratio is 53.16%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NKE. Morgan Stanley lowered their price objective on shares of NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, March 21st. Needham & Company LLC dropped their price target on NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and increased their target price for the company from $75.00 to $115.00 in a research report on Monday, February 24th. Finally, Citigroup cut NIKE from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $102.00 to $72.00 in a report on Friday, February 7th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

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.