AssuredPartners Investment Advisors LLC Makes New Investment in NIKE, Inc. (NYSE:NKE)

AssuredPartners Investment Advisors LLC purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,424 shares of the footwear maker’s stock, valued at approximately $259,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NKE. State Street Corp boosted its position in NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after buying an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP boosted its holdings 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 acquiring an additional 1,343,093 shares during the last quarter. Geode Capital Management LLC increased its position in NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after purchasing an additional 251,411 shares during the period. Bank of New York Mellon Corp raised its holdings in NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in NIKE by 7.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,205,753 shares of the footwear maker’s stock valued at $696,599,000 after purchasing an additional 603,219 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Down 3.8 %

NIKE stock opened at $63.32 on Friday. The company has a market cap of $93.65 billion, a price-to-earnings ratio of 19.54, a P/E/G ratio of 2.52 and a beta of 1.02. The firm has a 50-day moving average of $74.16 and a 200-day moving average of $76.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a one year low of $63.14 and a one year high of $98.04.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 earnings per share. On average, equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued 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 2.53%. NIKE’s payout ratio is 53.16%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NKE. Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 price target on shares of NIKE in a research report on Monday, March 17th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Morgan Stanley reduced their price target on NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Evercore ISI dropped their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, Robert W. Baird reduced their target price on NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Fifteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $87.38.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.