Zhang Financial LLC raised its position in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 30.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 10,897 shares of the footwear maker’s stock after buying an additional 2,531 shares during the quarter. Zhang Financial LLC’s holdings in NIKE were worth $825,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE during the 3rd quarter valued at about $30,000. VitalStone Financial LLC increased its holdings in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Dunhill Financial LLC lifted its stake in NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after buying an additional 169 shares during the period. Riverview Trust Co bought a new position in shares of NIKE during the 3rd quarter worth approximately $52,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of NIKE during the 3rd quarter worth approximately $54,000. 64.25% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts recently issued reports on NKE shares. Bank of America dropped their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. TD Cowen dropped their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Robert W. Baird reduced their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Guggenheim decreased their target price on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. cut their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.
NIKE Price Performance
NKE opened at $70.89 on Tuesday. NIKE, Inc. has a 12-month low of $70.32 and a 12-month high of $107.43. The company has a market cap of $104.85 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 2.26 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. The stock has a fifty day simple moving average of $75.77 and a two-hundred day simple moving average of $77.95.
NIKE (NYSE:NKE – Get Free Report) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 EPS. Research analysts predict that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.
NIKE Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.26%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is currently 49.38%.
Insider Activity
In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.10% of the company’s stock.
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.
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