Sheets Smith Wealth Management Purchases 1,628 Shares of NIKE, Inc. (NYSE:NKE)

Sheets Smith Wealth Management increased its holdings in NIKE, Inc. (NYSE:NKE) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,554 shares of the footwear maker’s stock after purchasing an additional 1,628 shares during the period. Sheets Smith Wealth Management’s holdings in NIKE were worth $6,020,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NKE. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE in the third quarter valued at $30,000. VitalStone Financial LLC grew its stake 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 buying an additional 150 shares during the last quarter. Dunhill Financial LLC raised its holdings in shares of NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after buying an additional 169 shares during the period. Riverview Trust Co bought a new stake in shares of NIKE during the 3rd quarter worth approximately $52,000. Finally, Catalyst Capital Advisors LLC bought a new position in NIKE in the 3rd quarter valued at $54,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on NKE shares. Royal Bank of Canada cut their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Guggenheim dropped their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Stifel Nicolaus lowered their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Jefferies Financial Group boosted their target price on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company cut their price target on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

NIKE Trading Up 3.4 %

Shares of NKE stock opened at $73.22 on Wednesday. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. The firm has a market cap of $108.30 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02. The company has a 50-day moving average of $75.66 and a two-hundred day moving average of $77.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

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 analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the previous year, the company earned $1.03 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, analysts predict that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

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

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by company 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.