Steele Capital Management Inc. Invests $1.10 Million in NIKE, Inc. (NYSE:NKE)

Steele Capital Management Inc. bought a new stake in shares of NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,111 shares of the footwear maker’s stock, valued at approximately $1,098,000.

Several other hedge funds also recently added to or reduced their stakes in NKE. Excalibur Management Corp grew its holdings in NIKE by 1.9% during the third quarter. Excalibur Management Corp now owns 5,148 shares of the footwear maker’s stock worth $492,000 after acquiring an additional 98 shares during the period. First Pacific Financial increased its holdings in shares of NIKE by 1.3% during the 3rd quarter. First Pacific Financial now owns 8,098 shares of the footwear maker’s stock valued at $774,000 after purchasing an additional 100 shares in the last quarter. Baxter Bros Inc. lifted its stake in shares of NIKE by 2.0% in the 3rd quarter. Baxter Bros Inc. now owns 5,045 shares of the footwear maker’s stock valued at $482,000 after purchasing an additional 100 shares during the period. Jeppson Wealth Management LLC boosted its holdings in NIKE by 4.5% during the third quarter. Jeppson Wealth Management LLC now owns 2,315 shares of the footwear maker’s stock worth $221,000 after buying an additional 100 shares in the last quarter. Finally, Cairn Investment Group Inc. grew its position in NIKE by 4.2% during the third quarter. Cairn Investment Group Inc. now owns 2,500 shares of the footwear maker’s stock valued at $239,000 after buying an additional 100 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NKE has been the topic of several recent analyst reports. Wedbush reissued an “outperform” rating and set a $115.00 target price on shares of NIKE in a research note on Wednesday, March 27th. 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. HSBC reduced their target price on NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Monday, January 22nd. Sanford C. Bernstein decreased their target price on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Finally, Wells Fargo & Company lowered their price target on NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $116.26.

NIKE Trading Down 0.1 %

Shares of NIKE stock traded down $0.05 on Monday, reaching $94.07. The company had a trading volume of 5,032,553 shares, compared to its average volume of 9,375,687. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The firm has a market cap of $141.99 billion, a PE ratio of 27.71, a PEG ratio of 1.82 and a beta of 1.09. The firm’s 50 day moving average price is $96.96 and its two-hundred day moving average price is $103.37. NIKE, Inc. has a 52-week low of $88.66 and a 52-week high of $128.68.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $12.28 billion. Sell-side analysts predict that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s payout ratio is 43.53%.

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.