PUREfi Wealth LLC Takes Position in NIKE, Inc. (NYSE:NKE)

PUREfi Wealth LLC bought a new stake in NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,629 shares of the footwear maker’s stock, valued at approximately $350,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank Pictet & Cie Europe AG boosted its holdings in NIKE by 10.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker’s stock valued at $14,447,000 after purchasing an additional 17,888 shares during the period. Klingenstein Fields & Co. LP boosted its holdings in NIKE by 0.4% in the fourth quarter. Klingenstein Fields & Co. LP now owns 177,954 shares of the footwear maker’s stock valued at $13,466,000 after purchasing an additional 689 shares during the period. Asset Planning Inc purchased a new position in NIKE in the fourth quarter valued at $56,000. V Square Quantitative Management LLC boosted its holdings in NIKE by 7.7% in the fourth quarter. V Square Quantitative Management LLC now owns 29,183 shares of the footwear maker’s stock valued at $2,208,000 after purchasing an additional 2,077 shares during the period. Finally, CFC Planning Co LLC purchased a new position in NIKE in the fourth quarter valued at $3,913,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NKE has been the subject of a number of recent research reports. Telsey Advisory Group reiterated a “market perform” rating and issued a $80.00 target price on shares of NIKE in a report on Thursday, February 6th. BMO Capital Markets lifted their price target on NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Citigroup downgraded NIKE from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $102.00 to $72.00 in a report on Friday, February 7th. DA Davidson raised NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Finally, Evercore ISI decreased their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $88.62.

NIKE Stock Down 0.3 %

Shares of NYSE:NKE opened at $73.02 on Friday. The company has a market cap of $108.00 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $107.34. The firm’s 50-day simple moving average is $74.58 and its 200-day simple moving average is $78.00. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last released its 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 company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.03 EPS. As a group, equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio is presently 49.38%.

About NIKE

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.