Navalign LLC Boosts Holdings in NIKE, Inc. (NYSE:NKE)

Navalign LLC boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 5.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 8,345 shares of the footwear maker’s stock after acquiring an additional 411 shares during the period. Navalign LLC’s holdings in NIKE were worth $906,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. Impact Partnership Wealth LLC raised its position in shares of NIKE by 220.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 181 shares in the last quarter. Planned Solutions Inc. acquired a new stake in NIKE in the fourth quarter valued at $29,000. Financial Freedom LLC acquired a new position in NIKE during the 4th quarter worth $29,000. Worth Asset Management LLC bought a new stake in shares of NIKE in the 1st quarter worth about $32,000. Finally, Raleigh Capital Management Inc. raised its stake in shares of NIKE by 134.2% in the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after purchasing an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Oppenheimer lowered NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 target price for the company. in a research report on Friday, February 16th. Robert W. Baird reduced their price objective on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Sanford C. Bernstein cut their price objective on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Williams Trading restated a “sell” rating and set a $85.00 price objective (down previously from $92.00) on shares of NIKE in a research report on Monday, March 18th. Finally, Barclays dropped their price target on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a report on Monday. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $116.75.

NIKE Stock Down 0.2 %

NYSE NKE traded down $0.15 during trading hours on Thursday, hitting $93.98. 11,326,994 shares of the company traded hands, compared to its average volume of 9,428,817. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $128.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The business’s 50-day moving average is $101.52 and its 200-day moving average is $103.63. The stock has a market capitalization of $143.03 billion, a price-to-earnings ratio of 27.63, a P/E/G ratio of 1.74 and a beta of 1.10.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. Sell-side analysts anticipate that NIKE, Inc. will post 3.7 earnings per share for the current year.

NIKE Announces Dividend

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

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.