Platform Technology Partners Increases Stock Holdings in NIKE, Inc. (NYSE:NKE)

Platform Technology Partners boosted its stake in NIKE, Inc. (NYSE:NKE) by 72.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,968 shares of the footwear maker’s stock after acquiring an additional 9,634 shares during the period. Platform Technology Partners’ holdings in NIKE were worth $1,738,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new stake in shares of NIKE during the fourth quarter valued at approximately $28,000. Caitlin John LLC boosted 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 buying an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE in the 3rd quarter worth about $30,000. VitalStone Financial LLC increased its stake in shares of NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Finally, Dunhill Financial LLC lifted its position in NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after acquiring an additional 169 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NYSE NKE opened at $68.69 on Friday. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $107.43. The firm has a market capitalization of $101.60 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average of $75.32 and a 200 day moving average of $78.05.

NIKE (NYSE:NKE) last issued its quarterly earnings data 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 net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.33%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is 49.38%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NKE shares. Royal Bank of Canada cut their price objective 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. 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 report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Wells Fargo & Company reduced their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. dropped their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Fifteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.62.

Insider Activity

In other news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

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.