Secure Asset Management LLC Acquires 23,237 Shares of NIKE, Inc. (NYSE:NKE)

Secure Asset Management LLC raised its holdings in NIKE, Inc. (NYSE:NKE) by 552.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,443 shares of the footwear maker’s stock after acquiring an additional 23,237 shares during the quarter. Secure Asset Management LLC’s holdings in NIKE were worth $2,077,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Public Sector Pension Investment Board boosted its holdings in NIKE by 71.5% during the second quarter. Public Sector Pension Investment Board now owns 46,500 shares of the footwear maker’s stock worth $3,505,000 after buying an additional 19,390 shares during the last quarter. EDENTREE ASSET MANAGEMENT Ltd increased its holdings in shares of NIKE by 7.6% in the second quarter. EDENTREE ASSET MANAGEMENT Ltd now owns 132,074 shares of the footwear maker’s stock worth $9,953,000 after acquiring an additional 9,350 shares in the last quarter. DoubleLine ETF Adviser LP acquired a new stake in shares of NIKE during the second quarter worth about $2,454,000. Delta Investment Management LLC raised its position in shares of NIKE by 179.5% during the second quarter. Delta Investment Management LLC now owns 8,233 shares of the footwear maker’s stock worth $621,000 after purchasing an additional 5,287 shares during the period. Finally, Daymark Wealth Partners LLC lifted its holdings in shares of NIKE by 1.7% during the 2nd quarter. Daymark Wealth Partners LLC now owns 111,561 shares of the footwear maker’s stock valued at $8,408,000 after purchasing an additional 1,896 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 0.5 %

NKE stock opened at $74.44 on Friday. The stock’s 50 day moving average is $75.54 and its 200-day moving average is $77.88. NIKE, Inc. has a twelve month low of $70.32 and a twelve month high of $107.43. The firm has a market capitalization of $110.10 billion, a PE ratio of 22.97, a P/E/G ratio of 2.33 and a beta of 1.02. 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 announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the previous year, the business posted $1.03 EPS. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. Sell-side analysts expect that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is 49.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Barclays dropped their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. TD Cowen reduced their price target on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Needham & Company LLC reiterated a “buy” rating and issued a $84.00 price objective on shares of NIKE in a report on Friday, December 20th. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Finally, Wells Fargo & Company cut their price target on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average target price of $89.96.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

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.