RB Capital Management LLC Acquires 581 Shares of NIKE, Inc. (NYSE:NKE)

RB Capital Management LLC boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,428 shares of the footwear maker’s stock after buying an additional 581 shares during the quarter. NIKE makes up about 1.8% of RB Capital Management LLC’s investment portfolio, making the stock its 13th largest holding. RB Capital Management LLC’s holdings in NIKE were worth $6,235,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NKE. Iron Horse Wealth Management LLC lifted its position in shares of NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Planned Solutions Inc. purchased a new position in NIKE in the 4th quarter worth approximately $29,000. Raleigh Capital Management Inc. boosted its stake in NIKE by 134.2% in the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock worth $36,000 after purchasing an additional 216 shares during the period. Stephens Consulting LLC boosted its position in shares of NIKE by 160.0% during the third quarter. Stephens Consulting LLC now owns 390 shares of the footwear maker’s stock worth $37,000 after acquiring an additional 240 shares during the last quarter. Finally, OFI Invest Asset Management bought a new stake in NIKE in the 3rd quarter valued at $37,000. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of research reports. Morgan Stanley dropped their price target on NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a research note on Wednesday, March 27th. Jefferies Financial Group dropped their target price on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. The Goldman Sachs Group lowered their price target on NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Citigroup reduced 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. Finally, UBS Group dropped their price target on NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Price Performance

Shares of NKE stock traded down $1.92 during mid-day trading on Wednesday, hitting $90.34. 9,554,639 shares of the stock were exchanged, compared to its average volume of 9,317,972. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a 52-week low of $88.66 and a 52-week high of $128.38. The firm has a fifty day moving average of $96.55 and a 200 day moving average of $103.28. The company has a market cap of $136.36 billion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The company had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. Research analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.64%. NIKE’s dividend payout ratio is currently 43.53%.

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.