57,377 Shares in NIKE, Inc. (NYSE:NKE) Bought by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC bought a new stake in NIKE, Inc. (NYSE:NKE) in the 4th quarter, Holdings Channel reports. The institutional investor bought 57,377 shares of the footwear maker’s stock, valued at approximately $4,342,000.

Other hedge funds have also recently made changes to their positions in the company. Good Life Advisors LLC acquired a new position in NIKE in the 3rd quarter valued at approximately $316,000. Stratos Wealth Advisors LLC grew its stake in shares of NIKE by 6.7% in the third quarter. Stratos Wealth Advisors LLC now owns 8,104 shares of the footwear maker’s stock worth $716,000 after purchasing an additional 506 shares during the last quarter. KMG Fiduciary Partners LLC raised its position in NIKE by 1.0% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 15,115 shares of the footwear maker’s stock worth $1,336,000 after purchasing an additional 149 shares during the last quarter. Blue Trust Inc. lifted its holdings in NIKE by 164.6% during the 3rd quarter. Blue Trust Inc. now owns 11,955 shares of the footwear maker’s stock worth $1,057,000 after buying an additional 7,437 shares during the period. Finally, Raymond James & Associates grew its position in shares of NIKE by 7.5% in the 3rd quarter. Raymond James & Associates now owns 1,505,332 shares of the footwear maker’s stock valued at $133,071,000 after buying an additional 105,093 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

NKE stock opened at $73.02 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The business has a 50-day simple moving average of $74.46 and a two-hundred day simple moving average of $78.03. The company has a market capitalization of $108.00 billion, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $107.34.

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, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.19%. NIKE’s dividend payout ratio is currently 49.38%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NKE shares. Bank of America lowered their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Morgan Stanley reduced their price objective on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and set a $84.00 target price on shares of NIKE in a research note on Friday, February 7th. TD Cowen cut their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Finally, Evercore ISI decreased their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.62.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was purchased 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 represents a 7.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.

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.