NIKE, Inc. (NYSE:NKE) Shares Acquired by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC increased its stake in NIKE, Inc. (NYSE:NKE) by 9.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,417 shares of the footwear maker’s stock after acquiring an additional 1,101 shares during the period. Connecticut Wealth Management LLC’s holdings in NIKE were worth $1,348,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Noesis Capital Mangement Corp raised its stake in shares of NIKE by 2.9% in the fourth quarter. Noesis Capital Mangement Corp now owns 126,528 shares of the footwear maker’s stock valued at $13,737,000 after acquiring an additional 3,564 shares in the last quarter. TCG Advisory Services LLC acquired a new stake in shares of NIKE in the fourth quarter valued at $291,000. Forte Capital LLC ADV raised its stake in shares of NIKE by 2.5% in the fourth quarter. Forte Capital LLC ADV now owns 85,579 shares of the footwear maker’s stock valued at $9,291,000 after acquiring an additional 2,052 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its stake in shares of NIKE by 7.6% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 13,433 shares of the footwear maker’s stock valued at $1,458,000 after acquiring an additional 952 shares in the last quarter. Finally, AJOVista LLC acquired a new stake in shares of NIKE in the fourth quarter valued at $184,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NKE shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 target price (down previously from $110.00) on shares of NIKE in a report on Friday, March 22nd. HSBC dropped their target price on NIKE from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Monday, January 22nd. Citigroup dropped their price objective on NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, March 14th. Bank of America raised NIKE from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $113.00 in a report on Thursday, April 11th. Finally, Williams Trading reaffirmed a “sell” rating and set a $85.00 price objective (down previously from $92.00) on shares of NIKE in a report on Monday, March 18th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $116.26.

NIKE Stock Down 0.3 %

Shares of NIKE stock traded down $0.26 during trading on Friday, reaching $92.15. The company had a trading volume of 5,736,711 shares, compared to its average volume of 8,740,078. The company has a market cap of $139.09 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. The firm’s fifty day moving average is $95.73 and its 200-day moving average is $103.04. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $127.69.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The business had revenue of $12.43 billion for 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%. On average, analysts anticipate that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.37 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.61%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

NIKE 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.