Franklin Street Advisors Inc. NC Increases Stock Position in NIKE, Inc. (NYSE:NKE)

Franklin Street Advisors Inc. NC boosted its holdings in NIKE, Inc. (NYSE:NKE) by 55.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,164 shares of the footwear maker’s stock after buying an additional 69,363 shares during the period. NIKE makes up 1.7% of Franklin Street Advisors Inc. NC’s investment portfolio, making the stock its 21st biggest holding. Franklin Street Advisors Inc. NC’s holdings in NIKE were worth $21,080,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Financial Freedom LLC purchased a new stake in shares of NIKE in the 4th quarter valued at about $29,000. Impact Partnership Wealth LLC increased its position in shares of NIKE by 220.7% in the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 181 shares during the last quarter. Planned Solutions Inc. purchased a new stake in NIKE in the fourth quarter valued at approximately $29,000. Worth Asset Management LLC bought a new stake in NIKE during the first quarter valued at approximately $32,000. Finally, Gyon Technologies Capital Management LP bought a new stake in NIKE during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the subject of several research reports. HSBC cut their target price on shares of NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Monday, January 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 target price (down previously from $110.00) on shares of NIKE in a research note on Friday, March 22nd. The Goldman Sachs Group lowered their price objective on shares of NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Sanford C. Bernstein reduced their price objective on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Finally, Raymond James lifted their price target on NIKE from $121.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 19th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average price target of $116.52.

NIKE Stock Down 0.2 %

NKE stock opened at $93.98 on Friday. The business has a 50 day moving average of $101.52 and a 200 day moving average of $103.63. The firm has a market cap of $143.03 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 1.76 and a beta of 1.10. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $128.68. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. On average, research analysts forecast that NIKE, Inc. will post 3.72 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Friday, March 1st. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. NIKE’s dividend payout ratio is presently 43.53%.

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.