New Age Alpha Advisors LLC Takes $3.32 Million Position in NIKE, Inc. (NYSE:NKE)

New Age Alpha Advisors LLC purchased a new position in NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 43,844 shares of the footwear maker’s stock, valued at approximately $3,318,000.

A number of other hedge funds also recently bought and sold shares of NKE. JNBA Financial Advisors increased its holdings in shares of NIKE by 1.3% in the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock worth $760,000 after buying an additional 131 shares during the last quarter. Frisch Financial Group Inc. increased its stake in NIKE by 4.7% during the third quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock worth $269,000 after acquiring an additional 136 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its position in NIKE by 0.7% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after purchasing an additional 136 shares during the period. GAMMA Investing LLC lifted its stake in shares of NIKE by 1.0% in the 4th quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock valued at $1,136,000 after purchasing an additional 150 shares during the last quarter. Finally, Game Plan Financial Advisors LLC boosted its holdings in shares of NIKE by 11.1% in the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock worth $114,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NKE opened at $63.32 on Friday. The firm has a market capitalization of $93.65 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The business’s 50-day moving average is $74.16 and its two-hundred day moving average is $76.93. NIKE, Inc. has a 1 year low of $63.14 and a 1 year high of $98.04.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The business had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue was down 9.1% compared to the same quarter last year. During the same period last year, the business earned $0.98 EPS. Research analysts anticipate 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. Shareholders of record on Monday, March 3rd will be issued 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 is currently 53.16%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley lowered their price target on NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, March 21st. DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and cut their price target for the company from $102.00 to $72.00 in a report on Friday, February 7th. JPMorgan Chase & Co. decreased their price objective on shares of NIKE from $73.00 to $64.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Finally, Evercore ISI cut their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Fifteen 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 company’s stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $87.38.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction 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 transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.10% of the company’s stock.

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.