Horizon Wealth Management LLC Acquires 543 Shares of NIKE, Inc. (NYSE:NKE)

Horizon Wealth Management LLC raised its holdings in NIKE, Inc. (NYSE:NKE) by 22.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,974 shares of the footwear maker’s stock after buying an additional 543 shares during the period. Horizon Wealth Management LLC’s holdings in NIKE were worth $225,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in NKE. Teachers Insurance & Annuity Association of America purchased a new position in NIKE during the 3rd quarter worth $30,000. VitalStone Financial LLC lifted its position 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 in the last quarter. Dunhill Financial LLC boosted its holdings in NIKE by 52.2% during the third 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 last quarter. Ecofi Investissements SA bought a new stake in NIKE in the 2nd quarter worth about $49,000. Finally, Riverview Trust Co purchased a new stake in NIKE in the 3rd quarter valued at about $52,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Up 1.3 %

Shares of NKE stock traded up $0.96 during trading hours on Monday, hitting $72.16. 14,528,872 shares of the company’s stock traded hands, compared to its average volume of 12,630,287. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The stock has a market cap of $106.73 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 1.89 and a beta of 1.02. The stock’s fifty day simple moving average is $76.29 and its two-hundred day simple moving average is $78.25. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $107.43.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 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 analysts’ expectations of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 earnings per share. On average, analysts expect that NIKE, Inc. will post 2.72 EPS for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.22%. NIKE’s dividend payout ratio is 49.38%.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NKE has been the subject of several recent analyst reports. Stifel Nicolaus reduced their target price on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. Sanford C. Bernstein reduced their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Deutsche Bank Aktiengesellschaft lowered their target price on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. TD Cowen decreased their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Finally, Robert W. Baird reduced their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average price target of $89.96.

NIKE 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.