Axxcess Wealth Management LLC Grows Holdings in NIKE, Inc. (NYSE:NKE)

Axxcess Wealth Management LLC lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 61.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,238 shares of the footwear maker’s stock after acquiring an additional 3,883 shares during the quarter. Axxcess Wealth Management LLC’s holdings in NIKE were worth $775,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new stake in shares of NIKE in the fourth quarter valued at approximately $28,000. Caitlin John LLC increased its holdings in NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America purchased a new position in NIKE during the third quarter valued at $30,000. Roxbury Financial LLC acquired a new stake in shares of NIKE in the fourth quarter valued at about $30,000. Finally, LFA Lugano Financial Advisors SA increased its stake in shares of NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after purchasing an additional 210 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Trading Down 1.9 %

NYSE:NKE opened at $71.61 on Friday. The stock has a fifty day moving average price of $74.77 and a 200 day moving average price of $77.56. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $68.22 and a 12-month high of $101.92. The firm has a market cap of $105.92 billion, a PE ratio of 22.10, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. Sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on NKE. Morgan Stanley lowered their price objective on NIKE from $74.00 to $72.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. DA Davidson raised NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Robert W. Baird reduced their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Bank of America lowered their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, China Renaissance assumed coverage on shares of NIKE in a research note on Wednesday. They set a “hold” rating for the company. Fifteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.54.

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.