NIKE, Inc. (NYSE:NKE) Position Increased by Cove Private Wealth LLC

Cove Private Wealth LLC lifted its holdings in NIKE, Inc. (NYSE:NKE) by 2.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 17,965 shares of the footwear maker’s stock after buying an additional 360 shares during the quarter. Cove Private Wealth LLC’s holdings in NIKE were worth $1,359,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of NKE. Teachers Insurance & Annuity Association of America acquired a new stake in NIKE during the third quarter worth about $30,000. VitalStone Financial LLC grew its holdings in shares of NIKE by 52.6% during the third 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 raised its position in shares of NIKE by 52.2% during the 3rd 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 stake in shares of NIKE in the 2nd quarter worth approximately $49,000. Finally, Riverview Trust Co acquired a new position in NIKE during the 3rd quarter valued at approximately $52,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NKE shares. Stifel Nicolaus dropped their target price on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research 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 report on Monday, December 23rd. Jefferies Financial Group lifted their price objective on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Guggenheim decreased their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Finally, DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.96.

NIKE Trading Down 0.3 %

Shares of NYSE NKE opened at $70.89 on Monday. The business has a fifty day simple moving average of $75.77 and a 200-day simple moving average of $77.94. The company has a market cap of $104.85 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 2.26 and a beta of 1.02. NIKE, Inc. has a 12 month low of $70.32 and a 12 month 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 posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion during 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 quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 earnings per share. Sell-side analysts predict 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. Investors of record on Monday, December 2nd were paid a $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. NIKE’s dividend payout ratio (DPR) is currently 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.