NIKE, Inc. (NYSE:NKE) Stake Lifted by Absher Wealth Management LLC

Absher Wealth Management LLC increased its position in NIKE, Inc. (NYSE:NKE) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 392,020 shares of the footwear maker’s stock after purchasing an additional 5,167 shares during the quarter. NIKE makes up about 3.9% of Absher Wealth Management LLC’s investment portfolio, making the stock its 10th largest holding. Absher Wealth Management LLC’s holdings in NIKE were worth $29,664,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Range Financial Group LLC bought a new stake in shares of NIKE during the 4th quarter valued at $642,000. Cacti Asset Management LLC bought a new stake in NIKE during the fourth quarter worth about $9,987,000. Capricorn Fund Managers Ltd bought a new stake in NIKE during the fourth quarter worth about $5,384,000. FNY Investment Advisers LLC grew its holdings in NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares during the period. Finally, Eagle Rock Investment Company LLC increased its stake in shares of NIKE by 49.2% during the fourth quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock valued at $4,589,000 after purchasing an additional 19,991 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 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, with a total value of $191,625.00. Following the completion of the purchase, the director now directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. TD Cowen decreased their price target on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Telsey Advisory Group downgraded NIKE from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $93.00 to $80.00 in a research note on Friday, December 20th. Robert W. Baird reduced their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Barclays dropped their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Finally, Wells Fargo & Company reduced their price target on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Stock Down 2.8 %

Shares of NYSE NKE opened at $74.60 on Thursday. The company has a market cap of $110.34 billion, a P/E ratio of 23.02, a PEG ratio of 2.50 and a beta of 1.01. The firm has a 50-day simple moving average of $75.53 and a two-hundred day simple moving average of $78.12. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating 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 company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the business earned $1.03 EPS. NIKE’s revenue was down 7.7% compared to the same quarter last year. Research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.14%. NIKE’s dividend payout ratio (DPR) 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.