Summit Trail Advisors LLC Acquires 1,792 Shares of NIKE, Inc. (NYSE:NKE)

Summit Trail Advisors LLC lifted its holdings in NIKE, Inc. (NYSE:NKE) by 16.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,384 shares of the footwear maker’s stock after buying an additional 1,792 shares during the quarter. Summit Trail Advisors LLC’s holdings in NIKE were worth $1,349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NKE. FMR LLC grew its stake in shares of NIKE by 0.7% during the third quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock valued at $1,769,200,000 after purchasing an additional 125,746 shares during the last quarter. Northern Trust Corp increased its position in shares of NIKE by 4.5% in the 3rd quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock valued at $1,487,625,000 after buying an additional 674,198 shares in the last quarter. Fisher Asset Management LLC raised its position in NIKE by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 9,887,769 shares of the footwear maker’s stock valued at $1,073,515,000 after buying an additional 219,091 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in NIKE by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,200,932 shares of the footwear maker’s stock worth $766,829,000 after acquiring an additional 89,947 shares during the last quarter. Finally, Newport Trust Company LLC acquired a new stake in shares of NIKE in the third quarter valued at approximately $679,775,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Up 1.3 %

Shares of NKE stock traded up $1.21 during trading hours on Monday, reaching $93.36. The company’s stock had a trading volume of 6,655,736 shares, compared to its average volume of 9,251,164. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a one year low of $88.66 and a one year high of $127.69. The stock has a market capitalization of $140.91 billion, a P/E ratio of 27.46, a P/E/G ratio of 1.78 and a beta of 1.07. The firm’s fifty day simple moving average is $95.73 and its 200 day simple moving average is $103.04.

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

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.37 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 1.59%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Jefferies Financial Group cut their price target on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, March 22nd. Barclays lowered their target price on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research note on Monday, March 25th. Sanford C. Bernstein decreased their price target on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. HSBC dropped their price objective on shares of NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Monday, January 22nd. Finally, Bank of America raised NIKE from a “neutral” rating to a “buy” rating and upped their target price for the stock from $110.00 to $113.00 in a report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $116.26.

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.