Premier Path Wealth Partners LLC Purchases 1,201 Shares of NIKE, Inc. (NYSE:NKE)

Premier Path Wealth Partners LLC raised its position in NIKE, Inc. (NYSE:NKE) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,738 shares of the footwear maker’s stock after purchasing an additional 1,201 shares during the period. Premier Path Wealth Partners LLC’s holdings in NIKE were worth $1,645,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of NKE. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE in the 3rd quarter valued at $30,000. VitalStone Financial LLC increased its holdings in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Dunhill Financial LLC raised its position in shares of NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares during the period. Ecofi Investissements SA bought a new position in shares of NIKE during the 2nd quarter valued at about $49,000. Finally, Riverview Trust Co acquired a new position in shares of NIKE in the 3rd quarter valued at approximately $52,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

NYSE NKE opened at $70.89 on Friday. The stock has a market cap of $104.85 billion, a PE ratio of 21.88, a P/E/G ratio of 2.26 and a beta of 1.02. 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 firm has a 50-day moving average of $75.87 and a 200-day moving average of $77.96. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43.

NIKE (NYSE:NKE) last issued its quarterly earnings data 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. NIKE had a net margin of 9.98% and a return on equity of 36.99%. 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 business posted $1.03 earnings per share. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio is currently 49.38%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and set a $84.00 target price on shares of NIKE in a report on Friday, December 20th. UBS Group reaffirmed a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a research report on Thursday, December 26th. Evercore ISI lowered their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Royal Bank of Canada cut their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Finally, Bank of America dropped their target price on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average target price of $89.96.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

NIKE Company 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.