Saybrook Capital NC Purchases 7,446 Shares of NIKE, Inc. (NYSE:NKE)

Saybrook Capital NC raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 4.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 178,022 shares of the footwear maker’s stock after purchasing an additional 7,446 shares during the period. NIKE accounts for 3.6% of Saybrook Capital NC’s portfolio, making the stock its 9th largest holding. Saybrook Capital NC’s holdings in NIKE were worth $13,471,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Range Financial Group LLC acquired a new position in NIKE during the fourth quarter valued at approximately $642,000. Cacti Asset Management LLC acquired a new position in NIKE during the fourth quarter valued at approximately $9,987,000. Capricorn Fund Managers Ltd acquired a new stake in shares of NIKE in the fourth quarter worth $5,384,000. Klein Pavlis & Peasley Financial Inc. grew its stake 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 stake 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 worth $654,000 after acquiring an additional 8,504 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NKE. Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $102.00 to $72.00 in a research note on Friday, February 7th. TD Cowen lowered their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Robert W. Baird lowered their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. UBS Group restated a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a research note on Thursday, December 26th. Finally, Stifel Nicolaus lowered their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Price Performance

Shares of NKE stock opened at $78.68 on Friday. The stock has a 50-day moving average price of $74.76 and a 200 day moving average price of $78.18. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a market cap of $116.38 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $102.49.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion during 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%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 EPS. Research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

NIKE Profile

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.