Steele Capital Management Inc. Invests $1.10 Million in NIKE, Inc. (NYSE:NKE)

Steele Capital Management Inc. bought a new stake in NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,111 shares of the footwear maker’s stock, valued at approximately $1,098,000.

A number of other institutional investors have also recently bought and sold shares of the business. FMR LLC grew its stake in NIKE by 0.7% during the third quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock worth $1,769,200,000 after buying an additional 125,746 shares during the last quarter. Northern Trust Corp raised its position in NIKE by 4.5% in the 3rd quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock valued at $1,487,625,000 after purchasing an additional 674,198 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in NIKE by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,200,932 shares of the footwear maker’s stock worth $766,829,000 after purchasing an additional 89,947 shares in the last quarter. Newport Trust Company LLC bought a new stake in shares of NIKE during the third quarter worth $679,775,000. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of NIKE by 37.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock valued at $553,786,000 after buying an additional 1,583,541 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NKE. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 target price (down previously from $110.00) on shares of NIKE in a research report on Friday, March 22nd. TheStreet cut shares of NIKE from a “b” rating to a “c+” rating in a research note on Tuesday, January 9th. Morgan Stanley dropped their target price on shares of NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a research report on Wednesday, March 27th. UBS Group reduced their price target on NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Finally, Stifel Nicolaus dropped their price objective on NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Stock Performance

Shares of NIKE stock traded down $0.05 during trading on Monday, hitting $94.07. 5,032,553 shares of the stock were exchanged, compared to its average volume of 9,375,687. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average price of $96.96 and a 200-day moving average price of $103.37. The stock has a market capitalization of $141.99 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $128.68.

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

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a dividend of $0.37 per share. 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 (DPR) is 43.53%.

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.