Panoramic Capital Partners LLC Purchases New Position in NIKE, Inc. (NYSE:NKE)

Panoramic Capital Partners LLC acquired a new position in shares of NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,926 shares of the footwear maker’s stock, valued at approximately $373,000. NIKE accounts for 0.3% of Panoramic Capital Partners LLC’s investment portfolio, making the stock its 29th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of NKE. Heck Capital Advisors LLC purchased a new position in shares of NIKE during the fourth quarter valued at $28,000. Caitlin John LLC grew its holdings in NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America purchased a new position in NIKE during the 3rd quarter valued at about $30,000. VitalStone Financial LLC raised its holdings in shares of NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Finally, Dunhill Financial LLC lifted its position in shares of NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares during the period. 64.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. DA Davidson raised NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Barclays lowered their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft cut their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Telsey Advisory Group reiterated a “market perform” rating and issued a $80.00 target price on shares of NIKE in a research report on Thursday, February 6th. Finally, Stifel Nicolaus cut their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Fifteen equities 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 stock. According to MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $88.62.

NIKE Price Performance

NKE opened at $70.90 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average price is $75.12 and its 200 day moving average price is $78.09. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $107.43. The firm has a market cap of $104.88 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 earnings per share. As a group, sell-side analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.26%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is presently 49.38%.

Insider Activity at NIKE

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

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.