Beaumont Asset Management L.L.C. Invests $654,000 in NIKE, Inc. (NYSE:NKE)

Beaumont Asset Management L.L.C. purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,644 shares of the footwear maker’s stock, valued at approximately $654,000.

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

NIKE Stock Performance

NYSE:NKE opened at $68.69 on Friday. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $107.43. The company has a market cap of $101.60 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 2.34 and a beta of 1.01. The firm’s 50-day moving average is $75.32 and its 200-day moving average is $78.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 EPS. Equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is 49.38%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. UBS Group reissued a “neutral” rating and set a $73.00 price objective on shares of NIKE in a research report on Thursday, December 26th. Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 price target on shares of NIKE in a report on Thursday. TD Cowen dropped their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Bank of America cut their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $102.00 to $72.00 in a research report on Friday. Fifteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.62.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

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.