Hopwood Financial Services Inc. Acquires New Shares in NIKE, Inc. (NYSE:NKE)

Hopwood Financial Services Inc. bought a new position in shares of NIKE, Inc. (NYSE:NKE) in the 4th quarter, HoldingsChannel.com reports. The fund bought 400 shares of the footwear maker’s stock, valued at approximately $30,000.

Several other institutional investors have also recently bought and sold shares of NKE. Axxcess Wealth Management LLC increased its position in NIKE by 2.6% during the 3rd quarter. Axxcess Wealth Management LLC now owns 6,355 shares of the footwear maker’s stock worth $562,000 after purchasing an additional 163 shares in the last quarter. Harbour Investments Inc. increased its position in NIKE by 6.6% during the 3rd quarter. Harbour Investments Inc. now owns 5,749 shares of the footwear maker’s stock worth $508,000 after purchasing an additional 357 shares in the last quarter. Baillie Gifford & Co. increased its position in NIKE by 10.9% during the 3rd quarter. Baillie Gifford & Co. now owns 182,830 shares of the footwear maker’s stock worth $16,162,000 after purchasing an additional 17,978 shares in the last quarter. Verus Capital Partners LLC increased its position in NIKE by 44.4% during the 3rd quarter. Verus Capital Partners LLC now owns 6,000 shares of the footwear maker’s stock worth $530,000 after purchasing an additional 1,845 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in NIKE by 5.2% during the 3rd quarter. Victory Capital Management Inc. now owns 748,386 shares of the footwear maker’s stock worth $66,157,000 after purchasing an additional 37,035 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Down 0.7 %

NKE stock opened at $73.62 on Thursday. The stock’s 50 day simple moving average is $74.73 and its 200 day simple moving average is $77.99. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $102.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company has a market cap of $108.89 billion, a P/E ratio of 22.72, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last posted 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. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the business earned $1.03 EPS. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Analyst Ratings Changes

A number of research firms recently issued reports on NKE. Bank of America lowered their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Jefferies Financial Group upgraded shares of NIKE from a “hold” rating to a “buy” rating and upped their price target for the company from $75.00 to $115.00 in a research report on Monday, February 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 target price on shares of NIKE in a research report on Friday, February 7th. Robert W. Baird cut their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 target price on shares of NIKE in a report on Wednesday, February 19th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $89.77.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.

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.