Heritage Wealth Management Inc. CA Boosts Stake in NIKE, Inc. (NYSE:NKE)

Heritage Wealth Management Inc. CA raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 807.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,283 shares of the footwear maker’s stock after purchasing an additional 3,811 shares during the period. Heritage Wealth Management Inc. CA’s holdings in NIKE were worth $324,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Pacer Advisors Inc. increased its holdings in NIKE by 6,029.6% in the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after acquiring an additional 6,709,985 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in shares of NIKE by 1,209,638.7% in the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after purchasing an additional 6,507,856 shares during the period. Bank of New York Mellon Corp increased its stake in shares of NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of NIKE by 358.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock valued at $228,165,000 after purchasing an additional 2,357,745 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of NIKE during the 4th quarter valued at $156,438,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on NKE shares. Bank of America decreased their price target on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Telsey Advisory Group reissued a “market perform” rating and issued a $80.00 price target on shares of NIKE in a report on Monday, March 17th. DA Davidson upgraded NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Dbs Bank upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Finally, China Renaissance started coverage on shares of NIKE in a research report on Wednesday, March 19th. They set a “hold” rating for the company. Fifteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $87.38.

NIKE Stock Down 0.7 %

Shares of NYSE NKE opened at $67.45 on Tuesday. The company has a market cap of $99.76 billion, a P/E ratio of 20.82, a PEG ratio of 2.52 and a beta of 1.02. The firm has a 50-day simple moving average of $74.61 and a two-hundred day simple moving average of $77.31. NIKE, Inc. has a 1 year low of $65.17 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 quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 EPS. Research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is presently 53.16%.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction that occurred 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 $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

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.