FourThought Financial Partners LLC Takes $332,000 Position in NIKE, Inc. (NYSE:NKE)

FourThought Financial Partners LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,388 shares of the footwear maker’s stock, valued at approximately $332,000.

A number of other large investors also recently bought and sold shares of the business. Allworth Financial LP increased its stake in NIKE by 20.9% in the 3rd quarter. Allworth Financial LP now owns 12,431 shares of the footwear maker’s stock worth $1,099,000 after buying an additional 2,148 shares during the period. Modera Wealth Management LLC grew its stake in NIKE by 8.8% in the 3rd quarter. Modera Wealth Management LLC now owns 8,983 shares of the footwear maker’s stock worth $794,000 after acquiring an additional 727 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in shares of NIKE by 7.7% during the third quarter. J.W. Cole Advisors Inc. now owns 12,029 shares of the footwear maker’s stock worth $1,063,000 after acquiring an additional 858 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of NIKE during the third quarter valued at approximately $218,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of NIKE by 40.2% during the third quarter. Nisa Investment Advisors LLC now owns 572,746 shares of the footwear maker’s stock valued at $50,810,000 after acquiring an additional 164,101 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NKE opened at $81.91 on Wednesday. The company has a market cap of $121.15 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. 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 firm’s 50-day moving average price is $74.45 and its 200-day moving average price is $78.26. NIKE, Inc. has a 52-week low of $68.62 and a 52-week high of $106.10.

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

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 1.95%. NIKE’s dividend payout ratio (DPR) is 49.38%.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’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 completion of the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. DA Davidson upgraded NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Guggenheim restated a “buy” rating and set a $110.00 price target on shares of NIKE in a research note on Wednesday, February 12th. Royal Bank of Canada lowered their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Wells Fargo & Company dropped their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Finally, Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and reduced their price target for the company from $102.00 to $72.00 in a report on Friday, February 7th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.77.

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.