Legacy Financial Advisors Inc. Grows Stock Position in NIKE, Inc. (NYSE:NKE)

Legacy Financial Advisors Inc. boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 29.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,573 shares of the footwear maker’s stock after purchasing an additional 1,262 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in NIKE were worth $605,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NKE. Oliver Luxxe Assets LLC boosted its stake in NIKE by 2.9% in the third quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock valued at $3,587,000 after acquiring an additional 1,041 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in NIKE in the fourth quarter valued at approximately $8,034,000. Financial Gravity Asset Management Inc. boosted its holdings in shares of NIKE by 2,332.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock valued at $17,598,000 after acquiring an additional 176,476 shares during the period. International Assets Investment Management LLC grew its position in shares of NIKE by 10,184.3% during the fourth quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after acquiring an additional 384,357 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC increased its holdings in shares of NIKE by 55.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock valued at $21,080,000 after acquiring an additional 69,363 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Down 0.3 %

NKE stock traded down $0.26 on Friday, hitting $92.15. 5,736,711 shares of the company were exchanged, compared to its average volume of 8,740,078. The stock has a market capitalization of $139.09 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. The business’s fifty day moving average is $95.73 and its two-hundred day moving average is $103.05. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $127.69. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. As a group, research analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio is currently 43.53%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Jefferies Financial Group lowered their price objective on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, March 22nd. TheStreet downgraded NIKE from a “b” rating to a “c+” rating in a research note on Tuesday, January 9th. Barclays lowered their target price on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research note on Monday, March 25th. Evercore ISI cut their price target on NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Finally, Stifel Nicolaus lowered their price objective on shares of NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

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.