Golden State Equity Partners Buys 184 Shares of NIKE, Inc. (NYSE:NKE)

Golden State Equity Partners lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 3.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,386 shares of the footwear maker’s stock after acquiring an additional 184 shares during the quarter. Golden State Equity Partners’ holdings in NIKE were worth $585,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in NKE. Impact Partnership Wealth LLC lifted its holdings in shares of NIKE by 220.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 181 shares during the last quarter. Iron Horse Wealth Management LLC lifted its holdings in shares of NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares during the last quarter. Planned Solutions Inc. bought a new stake in shares of NIKE during the 4th quarter worth $29,000. Raleigh Capital Management Inc. lifted its stake in NIKE by 134.2% in the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after purchasing an additional 216 shares during the last quarter. Finally, Stephens Consulting LLC lifted its stake in NIKE by 160.0% in the third quarter. Stephens Consulting LLC now owns 390 shares of the footwear maker’s stock worth $37,000 after purchasing an additional 240 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Price Performance

Shares of NKE stock traded up $0.18 on Friday, hitting $94.12. 6,115,744 shares of the stock traded hands, compared to its average volume of 9,124,711. The firm has a market cap of $142.06 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.81 and a beta of 1.08. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $128.68. The firm has a 50 day simple moving average of $96.96 and a two-hundred day simple moving average of $103.30. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The company had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. As a group, equities research analysts predict that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a yield of 1.57%. NIKE’s dividend payout ratio is currently 43.53%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NKE shares. Bank of America raised shares of NIKE from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $110.00 to $113.00 in a research note on Thursday, April 11th. The Goldman Sachs Group lowered their price target on shares of NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. HSBC lowered their price target on shares of NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Monday, January 22nd. Evercore ISI lowered their price objective on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Finally, Barclays reduced their price target on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research report on Monday, March 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $116.26.

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.