Strategic Financial Concepts LLC Invests $4.34 Million in NIKE, Inc. (NYSE:NKE)

Strategic Financial Concepts LLC acquired a new stake in NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 57,377 shares of the footwear maker’s stock, valued at approximately $4,342,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. State Street Corp raised its position in shares of NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Wellington Management Group LLP lifted its stake in NIKE by 5.1% in the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after buying an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after buying an additional 251,411 shares during the period. Fisher Asset Management LLC increased its position in shares of NIKE by 6.0% during the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after acquiring an additional 583,207 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of NIKE by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock worth $760,716,000 after acquiring an additional 117,187 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The shares were bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NYSE NKE opened at $73.02 on Monday. NIKE, Inc. has a one year low of $68.62 and a one year high of $107.34. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm has a market cap of $108.00 billion, a price-to-earnings ratio of 22.54, a P/E/G ratio of 2.34 and a beta of 1.01. The stock’s fifty day moving average price is $74.46 and its two-hundred day moving average price is $78.03.

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, topping analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.03 EPS. On average, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company 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 is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.19%. NIKE’s payout ratio is 49.38%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NKE shares. UBS Group reaffirmed a “neutral” rating and issued a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. Robert W. Baird decreased their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. BMO Capital Markets upped their price target on NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Finally, Citigroup cut shares of NIKE from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $102.00 to $72.00 in a report on Friday, February 7th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $88.62.

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.