Peregrine Asset Advisers Inc. Grows Stock Position in NIKE, Inc. (NYSE:NKE)

Peregrine Asset Advisers Inc. grew its position in shares of NIKE, Inc. (NYSE:NKE) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,938 shares of the footwear maker’s stock after purchasing an additional 348 shares during the period. Peregrine Asset Advisers Inc.’s holdings in NIKE were worth $1,130,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NKE. Foundations Investment Advisors LLC lifted its holdings in NIKE by 26.5% in the 3rd quarter. Foundations Investment Advisors LLC now owns 4,804 shares of the footwear maker’s stock worth $425,000 after buying an additional 1,006 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of NIKE by 2.9% during the third quarter. Private Advisor Group LLC now owns 75,274 shares of the footwear maker’s stock valued at $6,654,000 after acquiring an additional 2,108 shares in the last quarter. McAdam LLC increased its position in shares of NIKE by 6.3% during the third quarter. McAdam LLC now owns 2,852 shares of the footwear maker’s stock worth $252,000 after acquiring an additional 169 shares during the last quarter. PSI Advisors LLC lifted its stake in shares of NIKE by 26.3% in the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after acquiring an additional 130 shares in the last quarter. Finally, HT Partners LLC purchased a new position in NIKE in the third quarter valued at about $226,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on NKE shares. Evercore ISI dropped their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Needham & Company LLC restated a “buy” rating and issued a $84.00 price target on shares of NIKE in a research note on Friday, February 7th. BMO Capital Markets upped their price target on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. TD Cowen decreased their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Finally, DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Fifteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $88.62.

NIKE Price Performance

Shares of NYSE:NKE opened at $76.50 on Friday. 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 firm’s 50 day moving average is $74.31 and its two-hundred day moving average is $78.09. The firm has a market capitalization of $113.15 billion, a P/E ratio of 23.61, a PEG ratio of 2.50 and a beta of 1.01. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $106.62.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the firm earned $1.03 EPS. The firm’s revenue was down 7.7% compared to the same quarter last year. Analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is currently 49.38%.

NIKE 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.