NIKE, Inc. (NYSE:NKE) Shares Purchased by Financial Advocates Investment Management

Financial Advocates Investment Management boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,673 shares of the footwear maker’s stock after purchasing an additional 1,886 shares during the quarter. Financial Advocates Investment Management’s holdings in NIKE were worth $1,489,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. State Street Corp increased its holdings in NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after acquiring an additional 1,862,021 shares in the last quarter. Wellington Management Group LLP grew its position in shares of NIKE by 5.1% in the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after purchasing an additional 1,343,093 shares during the last quarter. Geode Capital Management LLC grew its position in shares of NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after purchasing an additional 251,411 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of NIKE by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after purchasing an additional 583,207 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of NIKE by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock worth $760,716,000 after purchasing an additional 117,187 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE 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 acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NKE shares. Bank of America reduced their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Barclays lowered 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. Telsey Advisory Group reissued a “market perform” rating and set a $80.00 price objective on shares of NIKE in a research note on Thursday. Morgan Stanley decreased their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. cut their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $89.77.

NIKE Price Performance

NKE stock opened at $71.75 on Friday. The stock has a 50-day simple moving average of $75.45 and a 200-day simple moving average of $78.10. The firm has a market cap of $106.13 billion, a P/E ratio of 22.15, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. 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, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43.

NIKE (NYSE:NKE) last posted 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. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 earnings per share. On average, equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio is 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.