NuWave Investment Management LLC purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,556 shares of the footwear maker’s stock, valued at approximately $605,000.
A number of other hedge funds have also made changes to their positions in NKE. SNS Financial Group LLC grew its stake in shares of NIKE by 2.8% in the 4th quarter. SNS Financial Group LLC now owns 2,554 shares of the footwear maker’s stock worth $361,000 after acquiring an additional 70 shares in the last quarter. Carlson Capital Management grew its stake in shares of NIKE by 2.2% in the 4th quarter. Carlson Capital Management now owns 3,414 shares of the footwear maker’s stock worth $500,000 after acquiring an additional 72 shares in the last quarter. MidWestOne Financial Group Inc. grew its stake in shares of NIKE by 1.2% in the 4th quarter. MidWestOne Financial Group Inc. now owns 6,303 shares of the footwear maker’s stock worth $892,000 after acquiring an additional 76 shares in the last quarter. Smith Shellnut Wilson LLC ADV grew its stake in shares of NIKE by 0.9% in the 4th quarter. Smith Shellnut Wilson LLC ADV now owns 8,542 shares of the footwear maker’s stock worth $1,208,000 after acquiring an additional 78 shares in the last quarter. Finally, Allred Capital Management LLC grew its stake in shares of NIKE by 2.3% in the 4th quarter. Allred Capital Management LLC now owns 3,591 shares of the footwear maker’s stock worth $508,000 after acquiring an additional 82 shares in the last quarter. Institutional investors and hedge funds own 64.20% of the company’s stock.
A number of brokerages recently weighed in on NKE. HSBC boosted their price target on shares of NIKE from $158.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, March 31st. Needham & Company LLC boosted their price target on shares of NIKE from $149.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, December 21st. UBS Group set a $183.00 price target on shares of NIKE and gave the stock a “buy” rating in a report on Friday, March 19th. Credit Suisse Group boosted their price target on shares of NIKE from $162.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, March 25th. Finally, Robert W. Baird raised shares of NIKE from a “neutral” rating to an “outperform” rating and set a $150.00 price target on the stock in a report on Thursday, April 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirty-one have assigned a buy rating to the company’s stock. NIKE has an average rating of “Buy” and an average target price of $159.89.
Shares of NYSE NKE opened at $135.45 on Friday. NIKE, Inc. has a one year low of $83.71 and a one year high of $147.95. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.66 and a quick ratio of 1.97. The firm’s 50 day simple moving average is $136.59 and its two-hundred day simple moving average is $135.23. The stock has a market capitalization of $213.54 billion, a P/E ratio of 77.40, a PEG ratio of 2.51 and a beta of 0.83.
NIKE (NYSE:NKE) last issued its quarterly earnings results on Wednesday, March 17th. The footwear maker reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The business had revenue of $10.40 billion for the quarter, compared to analysts’ expectations of $10.98 billion. NIKE had a net margin of 7.39% and a return on equity of 34.89%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the business earned $0.78 earnings per share. As a group, equities analysts expect that NIKE, Inc. will post 2.96 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 1st. Stockholders of record on Monday, March 1st were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date was Friday, February 26th. NIKE’s dividend payout ratio (DPR) is presently 59.46%.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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