Live Oak Private Wealth LLC Raises Stock Holdings in NIKE, Inc. (NYSE:NKE)

Live Oak Private Wealth LLC raised its position in shares of NIKE, Inc. (NYSE:NKE) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,196 shares of the footwear maker’s stock after purchasing an additional 166 shares during the quarter. Live Oak Private Wealth LLC’s holdings in NIKE were worth $469,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NKE. Range Financial Group LLC purchased a new position in NIKE during the 4th quarter worth approximately $642,000. Cacti Asset Management LLC acquired a new stake in shares of NIKE in the fourth quarter worth $9,987,000. Capricorn Fund Managers Ltd purchased a new position in shares of NIKE during the fourth quarter worth $5,384,000. Klein Pavlis & Peasley Financial Inc. lifted its position in NIKE by 31.1% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after purchasing an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC boosted its holdings in NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after purchasing an additional 8,504 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

NKE stock opened at $71.75 on Friday. The business’s fifty day moving average price is $75.45 and its 200 day moving average price is $78.10. NIKE, Inc. has a 12-month low of $70.32 and a 12-month high of $107.43. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $106.13 billion, a PE ratio of 22.15, a P/E/G ratio of 2.50 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 earnings per share. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. NIKE’s payout ratio is 49.38%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NKE. Robert W. Baird reduced their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Citigroup downgraded NIKE from a “buy” rating to a “neutral” rating and decreased their price target for the company from $102.00 to $72.00 in a report on Friday. Royal Bank of Canada dropped their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. TD Cowen decreased their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Finally, Wells Fargo & Company cut their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Fifteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.62.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

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.