Hanson & Doremus Investment Management Increases Position in NIKE, Inc. (NYSE:NKE)

Hanson & Doremus Investment Management lifted its position in NIKE, Inc. (NYSE:NKE) by 47.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 746 shares of the footwear maker’s stock after acquiring an additional 240 shares during the period. Hanson & Doremus Investment Management’s holdings in NIKE were worth $56,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Allen Capital Group LLC grew its stake in NIKE by 8.3% during the 4th quarter. Allen Capital Group LLC now owns 32,146 shares of the footwear maker’s stock valued at $2,433,000 after purchasing an additional 2,469 shares during the last quarter. Foster Victor Wealth Advisors LLC boosted its position in NIKE by 52.3% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 141,594 shares of the footwear maker’s stock valued at $10,031,000 after buying an additional 48,631 shares during the last quarter. Deane Retirement Strategies Inc. acquired a new position in NIKE in the 4th quarter worth approximately $1,915,000. Mayflower Financial Advisors LLC raised its position in NIKE by 20.8% during the 4th quarter. Mayflower Financial Advisors LLC now owns 11,642 shares of the footwear maker’s stock worth $881,000 after buying an additional 2,006 shares during the last quarter. Finally, Stonegate Investment Group LLC lifted its stake in NIKE by 18.5% during the 4th quarter. Stonegate Investment Group LLC now owns 670,616 shares of the footwear maker’s stock valued at $50,746,000 after acquiring an additional 104,786 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the topic of a number of research reports. Bank of America cut their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. TD Cowen cut their price target on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Telsey Advisory Group cut NIKE from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $93.00 to $80.00 in a report on Friday, December 20th. Morgan Stanley reduced their price target on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Finally, Stifel Nicolaus lowered their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued 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 an average rating of “Moderate Buy” and an average price target of $89.96.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The shares were bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

NIKE Stock Performance

Shares of NIKE stock opened at $78.28 on Friday. 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 stock has a market capitalization of $115.79 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 2.36 and a beta of 1.02. The business has a 50-day moving average of $75.55 and a 200 day moving average of $77.95. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating 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%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 earnings per share. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

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.