FourThought Financial Partners LLC Purchases New Position in NIKE, Inc. (NYSE:NKE)

FourThought Financial Partners LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKEFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,388 shares of the footwear maker’s stock, valued at approximately $332,000.

A number of other hedge funds also recently bought and sold shares of NKE. Range Financial Group LLC acquired a new position in shares of NIKE during the 4th quarter worth approximately $642,000. Cacti Asset Management LLC acquired a new position in NIKE during the fourth quarter worth $9,987,000. Capricorn Fund Managers Ltd purchased a new position in NIKE during the fourth quarter valued at $5,384,000. Klein Pavlis & Peasley Financial Inc. lifted its holdings in NIKE by 31.1% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after purchasing an additional 6,124 shares in the last quarter. Finally, FNY Investment Advisers LLC grew its position in shares of NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after purchasing an additional 8,504 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, 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 position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the subject of several research analyst reports. UBS Group restated a “neutral” rating and set a $73.00 price target on shares of NIKE in a research report on Thursday, December 26th. Morgan Stanley reduced their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. TD Cowen decreased their target price on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Finally, Citigroup downgraded NIKE from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.77.

View Our Latest Research Report on NIKE

NIKE Price Performance

NKE stock opened at $81.91 on Wednesday. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $106.10. The business has a fifty day moving average of $74.45 and a two-hundred day moving average of $78.26. The stock has a market cap of $121.15 billion, a price-to-earnings ratio of 25.28, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. 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 (NYSE:NKEGet Free Report) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $12.11 billion. During the same period last year, the company earned $1.03 EPS. The company’s quarterly revenue was down 7.7% on a year-over-year basis. As a group, research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is 49.38%.

NIKE Company Profile

(Free Report)

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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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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