Carnegie Lake Advisors LLC Buys 17,835 Shares of NIKE, Inc. (NYSE:NKE)

Carnegie Lake Advisors LLC boosted its position in NIKE, Inc. (NYSE:NKE) by 93.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,985 shares of the footwear maker’s stock after acquiring an additional 17,835 shares during the quarter. NIKE accounts for approximately 1.1% of Carnegie Lake Advisors LLC’s portfolio, making the stock its 19th largest holding. Carnegie Lake Advisors LLC’s holdings in NIKE were worth $2,799,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Teachers Insurance & Annuity Association of America bought a new position in NIKE during the third quarter valued at approximately $30,000. Caitlin John LLC grew its holdings in shares of NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in NIKE in the 4th quarter worth $28,000. VitalStone Financial LLC lifted its stake in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Finally, Dunhill Financial LLC boosted its position in NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after buying an additional 169 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now directly 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $70.90 on Tuesday. NIKE, Inc. has a 52 week low of $68.62 and a 52 week 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. The stock has a market cap of $104.88 billion, a P/E ratio of 21.88, a P/E/G ratio of 2.34 and a beta of 1.01. The business’s 50 day moving average price is $75.12 and its 200-day moving average price is $78.09.

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 36.99% and a net margin of 9.98%. 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. Equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued 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 2.26%. NIKE’s payout ratio is 49.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Barclays lowered their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Morgan Stanley lowered their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. UBS Group restated a “neutral” rating and issued a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. Stifel Nicolaus lowered their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. Finally, Robert W. Baird cut their price target 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. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.62.

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.