Powers Advisory Group LLC Makes New Investment in NIKE, Inc. (NYSE:NKE)

Powers Advisory Group LLC acquired a new position in shares of NIKE, Inc. (NYSE:NKE) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,589 shares of the footwear maker’s stock, valued at approximately $291,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Heck Capital Advisors LLC bought a new position in shares of NIKE in the fourth quarter valued at approximately $28,000. Roxbury Financial LLC bought a new position in shares of NIKE in the fourth quarter valued at approximately $30,000. LFA Lugano Financial Advisors SA grew its holdings in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after acquiring an additional 210 shares in the last quarter. Hopwood Financial Services Inc. bought a new position in shares of NIKE in the fourth quarter valued at approximately $30,000. Finally, EnRich Financial Partners LLC grew its holdings in shares of NIKE by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 273 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Trading Down 3.8%

NYSE:NKE opened at $60.44 on Friday. The company has a market cap of $89.40 billion, a P/E ratio of 18.65, a P/E/G ratio of 2.52 and a beta of 1.21. The stock’s fifty day moving average price is $59.38 and its two-hundred day moving average price is $68.73. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. 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 posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. The business’s quarterly revenue was down 9.1% on a year-over-year basis. As a group, analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.65%. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This represents a 36.78% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NKE shares. Williams Trading reduced their target price on NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a report on Monday, April 21st. JPMorgan Chase & Co. reduced their target price on NIKE from $64.00 to $56.00 and set a “neutral” rating for the company in a report on Monday, May 5th. Jefferies Financial Group reaffirmed a “buy” rating on shares of NIKE in a report on Friday, May 23rd. Berenberg Bank assumed coverage on NIKE in a report on Tuesday, April 15th. They set a “hold” rating and a $58.00 price objective for the company. Finally, Barclays reduced their price objective on NIKE from $70.00 to $60.00 and set an “equal weight” rating for the company in a report on Monday, May 12th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $80.26.

NIKE Company 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.