Ingalls & Snyder LLC Boosts Stock Position in NIKE, Inc. (NYSE:NKE)

Ingalls & Snyder LLC boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 107.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,623 shares of the footwear maker’s stock after purchasing an additional 4,469 shares during the quarter. Ingalls & Snyder LLC’s holdings in NIKE were worth $653,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Range Financial Group LLC purchased a new stake in NIKE during the 4th quarter worth approximately $642,000. Cacti Asset Management LLC bought a new stake in shares of NIKE in the 4th quarter valued at approximately $9,987,000. Capricorn Fund Managers Ltd acquired a new position in NIKE during the 4th quarter valued at approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. boosted its position in NIKE by 31.1% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after purchasing an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC boosted its position in NIKE by 5,745.9% during the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after purchasing an additional 8,504 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Up 1.4 %

Shares of NIKE stock opened at $73.25 on Friday. The firm has a market capitalization of $108.35 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $107.34. 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 stock’s fifty day moving average is $74.68 and its 200-day moving average is $78.04.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. The firm 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 quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.03 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.18%. NIKE’s payout ratio is 49.38%.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

NKE has been the subject of a number of analyst reports. Morgan Stanley reduced their price objective on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Evercore ISI reduced their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Barclays reduced their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Wells Fargo & Company reduced their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. Finally, DA Davidson upgraded NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Fifteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $88.62.

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.