Pacific Wealth Strategies Group Inc. purchased a new position in shares of Nike Inc (NYSE:NKE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,125 shares of the footwear maker’s stock, valued at approximately $899,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in NKE. O Shaughnessy Asset Management LLC purchased a new stake in Nike during the third quarter worth $526,000. Lincoln National Corp increased its position in Nike by 23.6% during the third quarter. Lincoln National Corp now owns 8,808 shares of the footwear maker’s stock worth $746,000 after purchasing an additional 1,684 shares during the last quarter. SG Americas Securities LLC increased its position in Nike by 268.1% during the third quarter. SG Americas Securities LLC now owns 218,844 shares of the footwear maker’s stock worth $18,540,000 after purchasing an additional 159,394 shares during the last quarter. Columbia Asset Management increased its position in Nike by 1.3% during the third quarter. Columbia Asset Management now owns 92,443 shares of the footwear maker’s stock worth $7,832,000 after purchasing an additional 1,169 shares during the last quarter. Finally, Advisor Partners LLC increased its position in Nike by 2.9% during the third quarter. Advisor Partners LLC now owns 31,626 shares of the footwear maker’s stock worth $2,679,000 after purchasing an additional 879 shares during the last quarter. 64.85% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on NKE shares. JPMorgan Chase & Co. raised their price objective on shares of Nike to $87.06 and gave the stock a “neutral” rating in a research report on Friday, December 21st. Macquarie set a $98.00 price objective on shares of Nike and gave the stock a “buy” rating in a research report on Tuesday, November 20th. Pivotal Research upgraded shares of Nike from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Friday, December 21st. Bank of America set a $55.00 price objective on shares of Nike and gave the stock a “sell” rating in a research report on Sunday, December 23rd. Finally, Cowen set a $80.00 price objective on shares of Nike and gave the stock a “hold” rating in a research report on Friday, January 11th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $84.59.
NKE stock opened at $86.87 on Friday. Nike Inc has a fifty-two week low of $63.21 and a fifty-two week high of $87.99. The stock has a market cap of $134.45 billion, a PE ratio of 35.90, a PEG ratio of 2.64 and a beta of 0.68. The company has a quick ratio of 1.40, a current ratio of 2.14 and a debt-to-equity ratio of 0.40.
Nike (NYSE:NKE) last released its quarterly earnings data on Thursday, December 20th. The footwear maker reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.06. Nike had a return on equity of 44.85% and a net margin of 5.66%. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.17 billion. During the same quarter last year, the business posted $0.46 EPS. Nike’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities research analysts anticipate that Nike Inc will post 2.63 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 4th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, March 1st. This represents a $0.88 annualized dividend and a dividend yield of 1.01%. Nike’s dividend payout ratio is currently 36.36%.
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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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