Trek Financial LLC Purchases 4,638 Shares of NIKE, Inc. (NYSE:NKE)

Trek Financial LLC boosted its position in NIKE, Inc. (NYSE:NKE) by 60.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 12,274 shares of the footwear maker’s stock after buying an additional 4,638 shares during the quarter. Trek Financial LLC’s holdings in NIKE were worth $929,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Insigneo Advisory Services LLC boosted its holdings in NIKE by 14.8% during the third quarter. Insigneo Advisory Services LLC now owns 10,442 shares of the footwear maker’s stock worth $923,000 after buying an additional 1,345 shares during the last quarter. XTX Topco Ltd acquired a new position in NIKE during the third quarter valued at approximately $418,000. Tenere Capital LLC grew its holdings in NIKE by 103.9% during the third quarter. Tenere Capital LLC now owns 241,723 shares of the footwear maker’s stock valued at $21,368,000 after purchasing an additional 123,156 shares during the period. Dunhill Financial LLC increased 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 purchasing an additional 169 shares in the last quarter. Finally, Northeast Financial Consultants Inc raised its holdings in NIKE by 75.9% in the third quarter. Northeast Financial Consultants Inc now owns 13,906 shares of the footwear maker’s stock worth $1,229,000 after purchasing an additional 6,000 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NKE stock opened at $57.17 on Monday. The firm has a 50 day moving average of $72.96 and a 200-day moving average of $76.27. The company has a market cap of $84.57 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52 week low of $52.50 and a 52 week high of $98.04.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same period last year, the company posted $0.98 earnings per share. The business’s quarterly revenue was down 9.1% on a year-over-year basis. On average, equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. BMO Capital Markets reduced their target price on NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Robert W. Baird decreased their price objective on NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Royal Bank of Canada dropped their target price on shares of NIKE from $67.00 to $66.00 and set a “sector perform” rating on the stock in a report on Friday, March 21st. Barclays reduced their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Finally, Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and dropped their price objective 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.38.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the business’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 completion of the sale, the chairman now 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.

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.