SVB Wealth LLC Makes New Investment in NIKE, Inc. (NYSE:NKE)

SVB Wealth LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 77,049 shares of the footwear maker’s stock, valued at approximately $5,830,000.

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

NIKE Trading Down 0.7 %

NYSE:NKE opened at $79.43 on Friday. The stock has a market cap of $117.49 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. NIKE, Inc. has a one year low of $68.62 and a one year high of $105.57. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The business’s 50-day simple moving average is $74.64 and its 200 day simple moving average is $78.32.

NIKE (NYSE:NKE) last announced its earnings results 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. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 EPS. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.01%. NIKE’s dividend payout ratio (DPR) is 49.38%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated 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 transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NKE. Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and cut their price target for the stock from $102.00 to $72.00 in a research note on Friday, February 7th. Wells Fargo & Company cut their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and set a $84.00 price target on shares of NIKE in a research report on Friday, February 7th. Guggenheim restated a “buy” rating and issued a $110.00 price objective on shares of NIKE in a report on Wednesday, February 12th. Finally, Jefferies Financial Group raised NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the company from $75.00 to $115.00 in a research note on Monday, February 24th. 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’s stock. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average target price of $89.77.

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.