Concentrum Wealth Management Makes New $302,000 Investment in NIKE, Inc. (NYSE:NKE)

Concentrum Wealth Management acquired a new position in NIKE, Inc. (NYSE:NKE) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 2,781 shares of the footwear maker’s stock, valued at approximately $302,000.

A number of other hedge funds have also recently added to or reduced their stakes in NKE. Iron Horse Wealth Management LLC boosted its holdings in shares of NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Planned Solutions Inc. acquired a new position in shares of NIKE during the fourth quarter valued at $29,000. Raleigh Capital Management Inc. boosted its holdings in shares of NIKE by 134.2% during the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after acquiring an additional 216 shares during the period. Stephens Consulting LLC lifted its holdings 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 period. Finally, OFI Invest Asset Management acquired a new stake in NIKE in the third quarter worth about $37,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NKE shares. Oppenheimer downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price objective for the company. in a report on Friday, February 16th. Stifel Nicolaus reduced their price objective on shares of NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Telsey Advisory Group reduced their price objective on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, March 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 price objective (down previously from $110.00) on shares of NIKE in a report on Friday, March 22nd. Finally, Sanford C. Bernstein reduced their price objective on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Stock Up 2.1 %

NYSE:NKE traded up $1.94 on Thursday, hitting $92.28. 4,192,376 shares of the company’s stock traded hands, compared to its average volume of 9,283,939. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $128.38. The firm has a 50-day moving average price of $96.25 and a 200-day moving average price of $103.19. The company has a market cap of $139.28 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07.

NIKE (NYSE:NKE) last released its 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 return on equity of 39.41% and a net margin of 10.14%. The company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. Equities analysts anticipate that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a dividend of $0.37 per share. The ex-dividend date was Friday, March 1st. This represents a $1.48 annualized dividend and a yield of 1.60%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

NIKE Company 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.