Gabelli Funds LLC Purchases 325 Shares of NIKE, Inc. (NYSE:NKE)

Gabelli Funds LLC raised its position in NIKE, Inc. (NYSE:NKE – Get Rating) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,695 shares of the footwear maker’s stock after buying an additional 325 shares during the period. Gabelli Funds LLC’s holdings in NIKE were worth $23,950,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of NKE. OLD Mission Capital LLC acquired a new position in NIKE during the 3rd quarter worth about $338,000. Morgan Stanley lifted its position in shares of NIKE by 3.2% during the second quarter. Morgan Stanley now owns 17,340,384 shares of the footwear maker’s stock worth $2,678,912,000 after purchasing an additional 543,451 shares in the last quarter. EagleClaw Capital Managment LLC grew its stake in shares of NIKE by 1.4% during the third quarter. EagleClaw Capital Managment LLC now owns 116,326 shares of the footwear maker’s stock valued at $16,891,000 after purchasing an additional 1,604 shares during the last quarter. Pearl River Capital LLC boosted its position in NIKE by 231.1% in the 3rd quarter. Pearl River Capital LLC now owns 7,615 shares of the footwear maker’s stock valued at $1,106,000 after buying an additional 5,315 shares during the last quarter. Finally, Marietta Wealth Management LLC increased its position in NIKE by 4.9% in the third quarter. Marietta Wealth Management LLC now owns 52,742 shares of the footwear maker’s stock worth $7,660,000 after purchasing an additional 2,467 shares during the period. 65.35% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NKE opened at $108.00 on Friday. The company’s 50-day moving average is $125.49 and its 200-day moving average is $144.46. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.06 and a quick ratio of 2.18. The firm has a market capitalization of $169.97 billion, a PE ratio of 28.50, a PEG ratio of 2.05 and a beta of 0.95. NIKE, Inc. has a fifty-two week low of $105.00 and a fifty-two week high of $179.10.

NIKE (NYSE:NKE – Get Rating) last released its quarterly earnings results on Monday, March 21st. The footwear maker reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.14. NIKE had a net margin of 13.06% and a return on equity of 43.04%. The firm had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.61 billion. During the same period in the prior year, the firm earned $0.90 EPS. The business’s revenue was up 4.8% on a year-over-year basis. Analysts predict that NIKE, Inc. will post 3.71 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Monday, June 6th will be paid a $0.305 dividend. The ex-dividend date is Friday, June 3rd. This represents a $1.22 annualized dividend and a yield of 1.13%. NIKE’s dividend payout ratio (DPR) is presently 32.19%.

A number of brokerages have issued reports on NKE. Sanford C. Bernstein initiated coverage on shares of NIKE in a research note on Monday, March 14th. They issued an “outperform” rating and a $160.00 price objective on the stock. The Goldman Sachs Group set a $177.00 price target on shares of NIKE in a research report on Tuesday, March 22nd. Morgan Stanley lowered their price objective on shares of NIKE from $202.00 to $192.00 and set an “overweight” rating for the company in a research report on Tuesday, March 15th. Wells Fargo & Company reduced their target price on NIKE from $175.00 to $165.00 and set an “overweight” rating on the stock in a report on Thursday, March 17th. Finally, Credit Suisse Group set a $165.00 price target on shares of NIKE in a report on Friday, April 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $171.52.

About NIKE (Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.

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