Exchange Traded Concepts LLC Has $2.33 Million Position in NIKE, Inc. (NYSE:NKE)

Exchange Traded Concepts LLC boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 9.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 30,787 shares of the footwear maker’s stock after buying an additional 2,646 shares during the quarter. Exchange Traded Concepts LLC’s holdings in NIKE were worth $2,330,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Range Financial Group LLC acquired a new stake in NIKE in the fourth quarter worth about $642,000. Cacti Asset Management LLC acquired a new stake in shares of NIKE during the 4th quarter worth approximately $9,987,000. Capricorn Fund Managers Ltd bought a new stake in shares of NIKE during the fourth quarter worth approximately $5,384,000. FNY Investment Advisers LLC lifted its holdings in NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after buying an additional 8,504 shares during the period. Finally, Eagle Rock Investment Company LLC boosted its stake in NIKE by 49.2% in the fourth quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock valued at $4,589,000 after acquiring an additional 19,991 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

NYSE:NKE opened at $73.60 on Monday. The stock has a market capitalization of $108.86 billion, a PE ratio of 22.72, a P/E/G ratio of 2.36 and a beta of 1.02. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. The firm has a fifty day simple moving average of $75.45 and a 200 day simple moving average of $77.90. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 EPS. On average, research analysts expect that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.17%. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NKE shares. Deutsche Bank Aktiengesellschaft cut their price target on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Stifel Nicolaus cut their target price on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. DA Davidson upgraded NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Jefferies Financial Group increased their price target on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Finally, Morgan Stanley decreased their price objective on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

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.