NIKE, Inc. (NYSE:NKE) Shares Acquired by Golden State Equity Partners

Golden State Equity Partners boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 217.6% in the fourth quarter, HoldingsChannel reports. The firm owned 3,259 shares of the footwear maker’s stock after purchasing an additional 2,233 shares during the quarter. Golden State Equity Partners’ holdings in NIKE were worth $247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NKE. Capital Insight Partners LLC lifted its holdings in shares of NIKE by 11.6% in the fourth quarter. Capital Insight Partners LLC now owns 34,300 shares of the footwear maker’s stock valued at $2,595,000 after buying an additional 3,558 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of NIKE by 111.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,354 shares of the footwear maker’s stock valued at $1,398,000 after buying an additional 9,691 shares during the period. Everett Harris & Co. CA lifted its holdings in shares of NIKE by 0.4% in the fourth quarter. Everett Harris & Co. CA now owns 1,067,328 shares of the footwear maker’s stock valued at $80,765,000 after buying an additional 4,778 shares during the period. Clear Creek Financial Management LLC acquired a new stake in shares of NIKE in the fourth quarter valued at $207,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of NIKE during the fourth quarter worth $28,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The shares were bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NKE. Barclays cut 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. TD Cowen cut their target price on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Telsey Advisory Group lowered NIKE from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $93.00 to $80.00 in a research report on Friday, December 20th. Morgan Stanley cut their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Finally, Evercore ISI cut their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.77.

NIKE Stock Down 0.4 %

NKE stock opened at $76.61 on Tuesday. The company has a market cap of $113.32 billion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The business has a 50-day simple moving average of $75.60 and a 200 day simple moving average of $78.06. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last released 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. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the business posted $1.03 earnings per share. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. Sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s payout ratio is 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.