Allstate Corp Takes $2.67 Million Position in NIKE, Inc. (NYSE:NKE)

Allstate Corp acquired a new position in NIKE, Inc. (NYSE:NKE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 35,310 shares of the footwear maker’s stock, valued at approximately $2,672,000.

Several other large investors also recently added to or reduced their stakes in the business. JNBA Financial Advisors grew its position in shares of NIKE by 1.3% during the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after acquiring an additional 131 shares during the period. Frisch Financial Group Inc. increased its position in NIKE by 4.7% in the third 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 in the last quarter. Nations Financial Group Inc. IA ADV raised its stake in shares of NIKE by 0.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock worth $1,547,000 after buying an additional 136 shares during the period. GAMMA Investing LLC lifted its position in shares of NIKE by 1.0% during the 4th quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock valued at $1,136,000 after buying an additional 150 shares in the last quarter. Finally, Game Plan Financial Advisors LLC grew its stake in shares of NIKE by 11.1% during the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock valued at $114,000 after acquiring an additional 150 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on NKE. Dbs Bank upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Needham & Company LLC decreased their price objective on shares of NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Wells Fargo & Company dropped their target price on shares of NIKE from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Evercore ISI decreased their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, Stifel Nicolaus dropped their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Trading Down 3.8 %

Shares of NKE opened at $63.32 on Friday. The company’s fifty day simple moving average is $74.16 and its 200-day simple moving average is $76.93. The company has a market cap of $93.65 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.52 and a beta of 1.02. 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, Inc. has a twelve month low of $63.14 and a twelve month high of $98.04.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 EPS. As a group, analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.53%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction on Friday, February 14th. The shares were 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by corporate insiders.

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.