CX Institutional Grows Stock Position in NIKE, Inc. (NYSE:NKE)

CX Institutional increased its holdings in NIKE, Inc. (NYSE:NKE) by 21.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 71,156 shares of the footwear maker’s stock after acquiring an additional 12,394 shares during the period. CX Institutional’s holdings in NIKE were worth $5,384,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Garrison Point Advisors LLC boosted its position in NIKE by 1.9% during the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after purchasing an additional 126 shares during the period. Stephens Consulting LLC grew its stake in shares of NIKE by 20.0% in the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after buying an additional 128 shares in the last quarter. PSI Advisors LLC raised its holdings in shares of NIKE by 26.3% during the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after buying an additional 130 shares during the period. Chapin Davis Inc. boosted its holdings in NIKE by 1.2% in the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after acquiring an additional 133 shares during the period. Finally, Meridian Financial Partners LLC grew its position in NIKE by 1.6% in the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after acquiring an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NKE. Telsey Advisory Group downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $93.00 to $80.00 in a research note on Friday, December 20th. DA Davidson upgraded NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Guggenheim cut their price target on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Evercore ISI lowered their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $84.00 price objective on shares of NIKE in a report on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average price target of $89.96.

NIKE Price Performance

Shares of NKE opened at $73.54 on Friday. The firm has a market capitalization of $108.77 billion, a price-to-earnings ratio of 22.71, a price-to-earnings-growth ratio of 2.36 and a beta of 1.02. The stock’s fifty day moving average is $75.54 and its 200-day moving average is $77.88. NIKE, Inc. has a one year low of $70.32 and a one year high of $107.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the previous year, the firm earned $1.03 EPS. NIKE’s revenue was down 7.7% on a year-over-year basis. Equities analysts anticipate that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The company 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 represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 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.