Horizon Investments LLC Increases Position in NIKE, Inc. (NYSE:NKE)

Horizon Investments LLC grew its holdings in NIKE, Inc. (NYSE:NKE) by 2.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 23,953 shares of the footwear maker’s stock after buying an additional 503 shares during the period. Horizon Investments LLC’s holdings in NIKE were worth $1,813,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. JNBA Financial Advisors raised its holdings in shares of NIKE by 1.3% in the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after buying an additional 131 shares during the last quarter. Frisch Financial Group Inc. raised its holdings in NIKE by 4.7% during the third quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock worth $269,000 after purchasing an additional 136 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in NIKE by 0.7% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock worth $1,547,000 after purchasing an additional 136 shares in the last quarter. GAMMA Investing LLC raised its holdings in NIKE by 1.0% during the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock worth $1,136,000 after purchasing an additional 150 shares in the last quarter. Finally, Game Plan Financial Advisors LLC raised its holdings in NIKE by 11.1% during the fourth quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock worth $114,000 after purchasing an additional 150 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Down 0.6 %

Shares of NYSE NKE opened at $73.28 on Wednesday. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $101.92. The firm’s 50 day moving average price is $74.73 and its 200 day moving average price is $77.64. The firm has a market cap of $108.38 billion, a P/E ratio of 22.62, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter last year, the business earned $1.03 earnings per share. NIKE’s revenue was down 7.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Bank of America cut their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Barclays cut their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Guggenheim reissued a “buy” rating and set a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Finally, Wells Fargo & Company dropped their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.54.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. purchased 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 purchase, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

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.