Advocate Group LLC Boosts Stock Position in NIKE, Inc. (NYSE:NKE)

Advocate Group LLC boosted its holdings in NIKE, Inc. (NYSE:NKE) by 2.7% during the 4th quarter, Holdings Channel reports. The firm owned 45,612 shares of the footwear maker’s stock after acquiring an additional 1,188 shares during the period. Advocate Group LLC’s holdings in NIKE were worth $4,952,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in NIKE by 2.4% in the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 142,769 shares of the footwear maker’s stock worth $15,500,000 after purchasing an additional 3,325 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in shares of NIKE by 14.7% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 5,234 shares of the footwear maker’s stock valued at $568,000 after buying an additional 669 shares during the last quarter. Northwest Investment Counselors LLC lifted its position in shares of NIKE by 16.6% during the 4th quarter. Northwest Investment Counselors LLC now owns 39,922 shares of the footwear maker’s stock valued at $4,334,000 after buying an additional 5,672 shares during the last quarter. Zullo Investment Group Inc. lifted its position in shares of NIKE by 49.4% during the 4th quarter. Zullo Investment Group Inc. now owns 8,922 shares of the footwear maker’s stock valued at $969,000 after buying an additional 2,952 shares during the last quarter. Finally, Occidental Asset Management LLC lifted its position in shares of NIKE by 10.6% during the 4th quarter. Occidental Asset Management LLC now owns 20,874 shares of the footwear maker’s stock valued at $2,266,000 after buying an additional 2,007 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Bank of America dropped their price target on NIKE from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Sanford C. Bernstein dropped their price target on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Wells Fargo & Company dropped their price target on NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, March 22nd. JPMorgan Chase & Co. dropped their price target on NIKE from $139.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, December 22nd. Finally, Barclays decreased their price objective on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research note on Monday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.52.

NIKE Price Performance

Shares of NIKE stock traded down $0.15 during trading on Friday, hitting $93.98. 11,331,676 shares of the stock traded hands, compared to its average volume of 11,409,578. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The stock has a market cap of $143.03 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 1.76 and a beta of 1.10. The firm’s fifty day moving average is $101.38 and its 200-day moving average is $103.56. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $128.68.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Research analysts expect that NIKE, Inc. will post 3.72 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 4th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.57%. The ex-dividend date is Friday, March 1st. NIKE’s dividend payout ratio is presently 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.