NIKE, Inc. (NYSE:NKE) Shares Purchased by Sheets Smith Wealth Management

Sheets Smith Wealth Management grew its position in shares of NIKE, Inc. (NYSE:NKE) by 2.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 79,554 shares of the footwear maker’s stock after buying an additional 1,628 shares during the period. Sheets Smith Wealth Management’s holdings in NIKE were worth $6,020,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Barclays dropped their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Bank of America decreased their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Stifel Nicolaus lowered their price target on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. Robert W. Baird dropped 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. Finally, Telsey Advisory Group lowered shares of NIKE from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $93.00 to $80.00 in a research report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.96.

NIKE Stock Up 3.4 %

Shares of NKE stock opened at $73.22 on Wednesday. The firm has a market capitalization of $108.30 billion, a P/E ratio of 22.60, a PEG ratio of 2.25 and a beta of 1.02. The firm’s fifty day moving average price is $75.66 and its two-hundred day moving average price is $77.92. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 36.99% and a net margin of 9.98%. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 earnings per share. On average, equities analysts predict that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is 49.38%.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available 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.