Beaumont Asset Management L.L.C. Acquires Shares of 8,644 NIKE, Inc. (NYSE:NKE)

Beaumont Asset Management L.L.C. bought a new position in NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,644 shares of the footwear maker’s stock, valued at approximately $654,000.

Several other large investors have also made changes to their positions in NKE. Pacer Advisors Inc. grew its stake in NIKE by 6,029.6% during the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after buying an additional 6,709,985 shares during the last quarter. Loomis Sayles & Co. L P boosted its holdings in shares of NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after acquiring an additional 6,507,856 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in NIKE by 358.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock valued at $228,165,000 after purchasing an additional 2,357,745 shares in the last quarter. State Street Corp increased its holdings in NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares in the last quarter. Finally, Holocene Advisors LP bought a new position in NIKE in the 3rd quarter valued at $148,635,000. Institutional investors own 64.25% of the company’s stock.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. bought 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, with a total value of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on NKE shares. Needham & Company LLC restated a “buy” rating and issued a $84.00 price objective on shares of NIKE in a research report on Friday. Telsey Advisory Group reiterated a “market perform” rating and issued a $80.00 price objective on shares of NIKE in a research report on Thursday. Deutsche Bank Aktiengesellschaft cut their price target on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. JPMorgan Chase & Co. reduced their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Finally, BMO Capital Markets increased their price objective on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Fifteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.62.

NIKE Stock Performance

Shares of NIKE stock opened at $68.69 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm has a market cap of $101.60 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a one year low of $68.62 and a one year high of $107.43. The stock’s 50-day moving average is $75.32 and its 200-day moving average is $78.05.

NIKE (NYSE:NKE) last released 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 quarter in the previous year, the business posted $1.03 EPS. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. Equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s payout ratio is presently 49.38%.

About NIKE

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.