Kentucky Trust Co Invests $72,000 in NIKE, Inc. (NYSE:NKE)

Kentucky Trust Co acquired a new position in NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 956 shares of the footwear maker’s stock, valued at approximately $72,000.

Several other large investors have also recently added to or reduced their stakes in the business. Garrison Point Advisors LLC increased its stake in NIKE by 1.9% during the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after buying an additional 126 shares during the period. Stephens Consulting LLC increased its stake in NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after buying an additional 128 shares during the period. PSI Advisors LLC increased its stake in NIKE by 26.3% during the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after buying an additional 130 shares during the period. Meridian Financial Partners LLC increased its stake in NIKE by 1.6% during the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after buying an additional 133 shares during the period. Finally, Frisch Financial Group Inc. increased its stake in NIKE by 4.7% during the 3rd quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock worth $269,000 after buying an additional 136 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NKE. Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 target price on shares of NIKE in a research note on Thursday, February 6th. Barclays dropped their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. BMO Capital Markets increased their price objective on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Finally, Morgan Stanley dropped their price objective on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $88.62.

NIKE Stock Up 1.4 %

Shares of NYSE:NKE opened at $72.31 on Thursday. The stock has a market cap of $106.96 billion, a P/E ratio of 22.32, a P/E/G ratio of 2.34 and a beta of 1.01. The firm has a fifty day moving average price of $74.80 and a 200 day moving average price of $78.08. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $107.34.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion during 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 quarter in the prior year, the business earned $1.03 EPS. Sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

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.