Strategic Financial Concepts LLC Invests $4.34 Million in NIKE, Inc. (NYSE:NKE)

Strategic Financial Concepts LLC acquired a new position in NIKE, Inc. (NYSE:NKE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 57,377 shares of the footwear maker’s stock, valued at approximately $4,342,000.

Several other large investors have also added to or reduced their stakes in the business. Gateway Investment Advisers LLC raised its holdings in NIKE by 2.1% during the third quarter. Gateway Investment Advisers LLC now owns 68,434 shares of the footwear maker’s stock worth $6,050,000 after acquiring an additional 1,384 shares in the last quarter. City State Bank raised its stake in shares of NIKE by 61.0% during the 3rd quarter. City State Bank now owns 5,422 shares of the footwear maker’s stock worth $479,000 after purchasing an additional 2,055 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of NIKE by 15.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 28,141 shares of the footwear maker’s stock valued at $2,488,000 after buying an additional 3,864 shares during the last quarter. Birch Hill Investment Advisors LLC grew its stake in shares of NIKE by 26.7% in the third quarter. Birch Hill Investment Advisors LLC now owns 37,551 shares of the footwear maker’s stock valued at $3,320,000 after buying an additional 7,903 shares in the last quarter. Finally, Factory Mutual Insurance Co. increased its holdings in NIKE by 22.6% during the third quarter. Factory Mutual Insurance Co. now owns 335,400 shares of the footwear maker’s stock worth $29,649,000 after buying an additional 61,800 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on NKE shares. BMO Capital Markets lifted their price objective on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Barclays lowered their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Morgan Stanley cut 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. Bank of America decreased their target price on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price target on shares of NIKE in a report on Friday. Fifteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.62.

NIKE Trading Down 4.3 %

Shares of NIKE stock opened at $68.69 on Monday. The firm’s 50-day moving average price is $75.12 and its two-hundred day moving average price is $78.04. The company has a market capitalization of $101.60 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 2.34 and a beta of 1.01. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $107.43.

NIKE (NYSE:NKE) last announced 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 business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the firm posted $1.03 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

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

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.