SlateStone Wealth LLC Buys 2,603 Shares of NIKE, Inc. (NYSE:NKE)

SlateStone Wealth LLC lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 10.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,866 shares of the footwear maker’s stock after purchasing an additional 2,603 shares during the period. SlateStone Wealth LLC’s holdings in NIKE were worth $2,917,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oliver Luxxe Assets LLC increased its position in NIKE by 2.9% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock worth $3,587,000 after buying an additional 1,041 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of NIKE during the 4th quarter worth $8,034,000. Financial Gravity Asset Management Inc. grew its holdings in shares of NIKE by 2,332.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after purchasing an additional 176,476 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of NIKE by 10,184.3% during the 4th quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after purchasing an additional 384,357 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC grew its holdings in shares of NIKE by 55.6% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock worth $21,080,000 after purchasing an additional 69,363 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of several analyst reports. Jefferies Financial Group reduced their target price on NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. HSBC reduced their target price on NIKE from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Monday, January 22nd. Robert W. Baird reduced their price objective on NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Evercore ISI reduced their price objective on NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of NIKE in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $116.26.

NIKE Stock Performance

Shares of NKE traded up $0.53 during mid-day trading on Wednesday, hitting $94.55. The stock had a trading volume of 930,764 shares, compared to its average volume of 9,452,416. The firm has a market cap of $142.71 billion, a P/E ratio of 27.66, a PEG ratio of 1.82 and a beta of 1.08. The business has a fifty day moving average price of $97.63 and a 200-day moving average price of $103.44. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $128.68.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The company had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. On average, equities research analysts expect that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a yield of 1.57%. NIKE’s dividend payout ratio is currently 43.53%.

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.